Ghost Wrap #50 (PSG Financial Services | MiX Telematics | Karooooo | CMH | African Bank and Sasfin | Cashbuild | Calgro M3)
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Description
Welcome to Ghost Wrap, your regular update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I recapped a week's worth of news across a variety of sectors: PSG Financial Services is making a strong case for itself as an attractive option on the local market. MiX Telematics has attracted an international suitor and the merged entity would be listed on the JSE, so that's exciting news. Karooooo will be sticking to its knitting going forward and that's a good thing. CMH is on the wrong side of a car market that is finally cracking, with the car hire business doing a lot better than automotive retail. Sasfin has managed to offload two business units off to African Bank at a juicy price, leading to a major rally in the Sasfin share price. Cashbuild continues to struggle, with revenue flat year-on-year. Calgro M3 released solid results that also show the benefit of share buybacks when used properly. 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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