Highlights of the day: 26 July

FinMeUp highlights of the day

South Africa

Kumba Iron Ore Limited- Interim results for the period ended 30 June 2022

• Revenue decreased 32% to R42,977 million.
• Basic EPS decreased 51% to R36 per share.
• Production decreased 13% to 17,760 000 tonnes.
• Kumba achieved a return on capital employed of 98%.
• Kumba had an attributable free cash flow of R9.7 billion.
• The board declared an interim dividend of R28.70 per share, down 61%.

Woolworths Holdings Limited- Trading update for the 52 weeks ended 30 June 2022

• Group turnover and concession sales increased 1.4%.
• Online sales grew by 16.4%.
• The SA Fashion Beauty Home business grew by 6.5%.
• SA Sales for the full year grew by 5.4% and by 7.3% in comparable stores.
• Woolworths Food grew turnover and concession sales in H2 by 4.6%.
• Woolworths Food sales for the full year grew by 4.2%.
• Woolworths Food online sales increased by 45.4%, contributing 3.2% of South African sales.

Reinet Investments SCA

• Reinets net asset value of EUR 5 705 million, reflects a compound growth rate of 9.3 per cent per annum since March 2009, including dividends paid.
• The company reported a net asset value of EUR 31.38 per share, compared to EUR 27.97 per share reported this time last year.
• Fifth share buyback program completed with 2 325 979 ordinary shares repurchased during the quarter

Pick N Pay Stores Limited- Trading update for the 52 weeks ended 3 July 2022

• Group sales increased 10.7%.
• The Groups Rest of Africa segment revenue increased by 18.9%.
• The Groups South Africa segment grew sales by 10.5%.
• Group liquor sales for the period increased 17.2% year on year.
• The clothing division increased sales by 17.1%.
• Total online sales grew by 97.3%.

Shoprite Holdings Limited- Operational update for the 52 weeks to 3 July 2022

• Total sale of merchandise grew by 11.9% to approximately R184.1 billion.
• SA supermarkets grew sales by 12.6% to R133.9 billion.
• Non-SA supermarkets grew sales by 12.9% to R15.4 billion.
• Furniture sales grew 0.7% to R6.8 billion.
• Other operating segments grew sales by 9.3% to R11.9 billion.

Merafe Resources Limited- Production report and trading statement for the six months ended 30 June 2022

• Merafes attributable ferrochrome production from the Glencore Merafe Chrome Venture for the six months ended 30 June 2022 marginally increased by 1.7% to 203 kt.
• Merafe is expecting a basic EPS of between 34.7 cents and 39.3 cents, representing an increase of between 50.9% and 70.9%.

Curro Holdings Limited- Trading statement

• Curro expects an EPS of between 25.9 cents and 29.1 cents per share, representing an increase of between 19.4% and 34.1%.

Truworths International Limited- Business update for the 53-week period ended 3 July 2022

• Retail sales for the Truworths Africa segment grew by 7.5% to R14.0 billion.
• Account and cash sales grew by 8.7% and 4.9%.
• Account sales comprised 69% of retail sales.
• Gross trade receivables grew by 9.4% to R5.9 billion.
• Active accounts grew by 2% to 2.6 million.
• Retail sales for the Groups UK-based Office segment grew by 16.6% in Sterling terms to 224.3 million.
• Online sales for the office segment contributed approximately 45% of retail sales.

Vukile Property Fund Limited

• Old Mutual Limited acquired shares of Vukile and now hold 5.10% of Vukile issued shares.

The U.S.

Whirlpool earnings 

• EPS of $5.97 beating expectations of $5.24.
• Revenue of $5.20B missing expectations of $5.23B.

Logitech earnings 

• EPS of $0.74 missing expectations of $0.81.
• Revenue of $1.16B missing expectations of $1.19B.

Alibaba

• Alibaba is pursuing a primary listing on the Hong Kong stock exchange.
• Alibaba will become dual primary listed on the NYSE and Hong Kong.

Coca-Cola earnings 

• EPS of $0.70 beating expectations of $0.67.
• Revenue of $11.30B beating expectations of $10.54B.

McDonald's earnings

• EPS of $2.55 beating expectations of $2.47.
• Revenue of $5.72B missing expectations of $5.82B.

Amazon

• Amazon has announced that they are raising Amazon Prime prices across Europe.

1. UK - 79 to 95, +20%
2. France - 49 to 69.90, +43%
3. Germany - 69 to 89.90, +30%
4. Italy - 36 to 49.90, +39%
5. Spain - 36 to 49.90, +39%

General Motors Earnings

• EPS of $0.78 beating expectations of $0.38.
• Revenue of $18.65B beating expectations of $17.60B.

Shopify

• Shopify have plans to lay of 10% of its workforce representing about 1,000 employees

Biggest winners and losers

JSE

• Truworths +9.70%
• Tsogo Sun -3.52%

U.S.

• Seagen +3.41%
• Crowdstrike -5.76%

Crypto

• Bitcoin -4.7%
• Ethereum -9.7%
• Solana -8.9%