Ghost Wrap #34 (Richemont | ArcelorMittal | Pick n Pay | Truworths | Mr Price | Super Group | Northam Platinum | Vodacom)
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Description
Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Richemont suffered a significant sell-off after releasing numbers that showed negative growth in the Americas. ArcelorMittal experienced incredible volatility after releasing a trading update that anticipates a substantial headline loss per share. Pick n Pay also had a volatile week and is also expecting an interim loss, with pressure on sales in the core business and large once-off costs in this period. Truworths experienced a slowdown in sales in the second half of the financial year in the Africa business, with the UK making up for it with a strong second half. Mr Price is having a tough time, with slow sales growth excluding Studio 88 and clear pressure on margins. Super Group is investing in the UK, with the acquisition of a 78.82% stake in the Amco business. Northam Platinum is throwing in the towel on the Royal Bafokeng Platinum stake, accepting the offer from Impala Platinum and locking in roughly a R4 billion loss in the process. Vodacom is growing revenue at mid-single digits, yet capital expenditure is growing at a much higher rate. The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.
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