Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news. Capital Appreciation's share price has done anything but appreciate this year, with sector peer PBT Group also under pressure. Mustek is proof of how low expectations can help in this environment. Bidvest is executing a bolt-on acquisition in Australia, a traditionally...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news. Libstar is a great reminder of why I'm bearish on SA consumer stocks. Gemfields has reminded the market that the risks extend beyond just the rubies. FirstRand isn't aiming for heroics in this environment, but the share price is demanding more growth. Metair could well be...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news. Bell Equipment has released really strong results, but watch the cash. Transaction Capital's nightmares continue, with news of the departure of David Hurwitz and underlying earnings in a tough spot, sending the share price back below R6. Capitec found some love in the...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news. Bowler Metcalf is evidence of how share buybacks can turn financial water into wine. City Lodge was permanently damaged by the pandemic, but at least the company is profitable again. Shoprite's astonishing performance was blunted by Eskom, which means share price...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I looked at some of the more interesting stories in a busy few days of news. Cher once asked us if we believe in life after love. I'm not sure about that, but we can believe in life after REIT based on the latest numbers from Fortress. The recent results from Truworths need a careful read based on important and justifiable adjustments, with the...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, we cover only good news on the local market - isn't that refreshing? An entire podcast of good news! Super Group is living up to its name and with growth in profit in every segment, there's much for shareholders to feel good about here. Grindrod is in a different part of the logistics industry, yet the growth numbers are remarkably similar to...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, we recap: Strong results at Spur that gave the share price another boost on top of the strong positive response to the trading statement. Earnings growth at Adcock Ingram that benefitted from a "normal" flu season, although other segments were perhaps disappointing for investors. An excellent year thus far for Bidvest, supported by strong earnings...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, we recap: Aveng's poor recent results and the volatility in the share price around the time of the earnings release. Curro's solid year-on-year growth, driven mainly by pricing increases in tuition fees. Libstar's substantial drop in HEPS, with mushroom production as the biggest problem after the Shongweni facility was destroyed. Transpaco's...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, we recap a busy couple of days: It's hard to find companies doing well in this environment, but Grindrod is one of them - if only the share price would notice! As expected, there's a further trading statement from Impala Platinum about just how bad things are. Merafe is doing very well, bucking the trend in the mining industry and continuing to...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this week's episode of Ghost Wrap, we catch up on the public holiday week and the start of the new week across various sectors: In banking, Nedbank and Absa both released earnings that reflect a deteriorating credit outlook, particularly in retail banking in portfolios like home loans. In mining, the cycle has turned ugly for most players, with Exxaro, Northam Platinum,...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this week's episode of Ghost Wrap, we play rock paper scissors (well, almost): Rock: AngloGold, Pan African Resources and Impala Platinum showing us that times are tough in mining. Paper: Mondi and Sappi reflecting highly cyclical numbers, with Mpact delivering really strong results in this period. Scissors: a sharp set of numbers came in from Spur and Standard Bank. The...

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this week's episode of Ghost Wrap, we cover: Challenges in the gold sector, with AngloGold, Sibanye-Stillwater and even Gold Fields releasing tough announcements. At least Pan African Resources had a good news story this week. The telecoms sector and difficulties in that space, with MTN and Telkom facing different but equally serious issues. The critical importance of the...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Woolworths reported solid numbers that seemed to be in line with market expectations. Shoprite has blown competitors away with exceptional growth across the LSM curve. Liberty Two Degrees is only a happy story if you're a recent investor, giving us another excellent example of why buying the "hype" sector (in this case property on the JSE in 2015 - 2017) is so dangerous. Spur is...

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...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Bell Equipment gave investors the shock of a CEO resignation and the great news of strong earnings growth, all in the same week! Invicta has been busy with offshore acquisitions, with two voluntary announcements this week. Tharisa's quarterly production update is a reminder of why having both PGM and chrome exposure is useful. Sasol is on the wrong side of air quality...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Spear REIT released encouraging first quarter metrics overall, but the company certainly isn't immune from the broader macroeconomic challenges despite being focused on the Western Cape. Attacq has agreed terms with the Government Employees' Pension Fund (GEPF) for the acquisition of a 30% stake in Attacq's Waterfall portfolio. AngloGold's restructure into a NYSE-listed group...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: AECI is all about good chemistry, but the German business truly is the wurst. Argent Industrial has officially reached gatvol status, with scathing commentary of government in the latest results and a strategy focused on offshore growth. Hudaco has taken a more mature response in its criticism of government, with ongoing investment in South Africa. PBT Group shows that...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Afrimat is acquiring Lafarge South Africa, a deal announcement that came against a backdrop of disappointing recent performance across the local cement industry. AngloGold is a perfect example of why I think gold stocks are for trading rather than investing. Harmony Gold is trying to wave the flag for the sector, though the move into copper says something about gold mining in...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: PPC and Sephaku Holdings aren't just good reminders of how tough the cement industry is, but also how poorly South Africa is trailing African peers when it comes to investing in growth and infrastructure. Trading statements from Naspers and Prosus demonstrate the extent of the value destruction by this management team, with portfolio write-downs as internet valuations have come...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Bidcorp is achieving record numbers, but the regional split isn't what you might expect. Bidvest continues to demonstrate the value of pricing power and strong cost management. MultiChoice is on the wrong side of consumer spending and load shedding, with forex issues in Nigeria as an additional huge headache. Argent Industrial is a small cap with a big heart, performing well in...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Nedbank's operational update, reflecting strong growth in headline earnings and a warning about further interest rate increases, along with the news of Mike Brown stepping down as CEO. An awful week for Spar shareholders, with the stock now trading at levels last seen in 2011. Hudaco's acquisition of the Brigit group of fire protection companies, featuring a surprisingly high...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Pan African Resources shareholders are licking their wounds, with a major sell-off in the share price after a reduction in production guidance. The Hosken Consolidated Investments (HCI) group of companies reported this week, with a vastly different picture at the mothership vs. underlying listed companies Deneb, eMedia and Frontier Transport. Southern Sun's earnings tell an...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Dis-Chem's latest numbers, including a very concerning second half of the financial year. The cyclicality of the shipping industry, with the most recent quarterly performance of Grindrod Shipping as a perfect example. The appeal of property in Eastern Europe, with NEPI Rockcastle generating strong income growth in a country far away from load shedding. Telkom's gigantic...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: Karooooo's latest quarter, which makes it even clearer that management should be focusing on the core Cartrack business. The ongoing bad luck at Quantum Foods, where the macroeconomic and load shedding issues have now been compounded by the horrors of avian influenza. RFG Holdings as a good news story in a sea of pain on the JSE, with the business really performing well. Sappi's...

Welcome to Ghost Wrap. It's fast. It's fun. It's informative. In this week's episode of Ghost Wrap, we cover: AB InBev is making a strong case for itself as a more defensive stock than the likes of British American Tobacco. Famous Brands doesn't think that load shedding is working out well for the group but I disagree - and the latest numbers seem to support my view. Calgro M3 has released very strong numbers and is using the depressed share price as an opportunity for buybacks. CMH's...