Highlights of the day: 29 August

FinMeUp highlights of the day

South Africa

Massmart Holdings Limited- Reviewed Interim Results for the 26 weeks ended 26 June 2022

• Trading profit before interest and taxation decreased 27.2% to R323.5 million.
• Loss for the period worsened 1.5% to R1,101.9 million.
• Basic EPS decreased 1.3% to a loss per share of 509.0 cents per share.
• The Massmart board and Walmart have reached a principle agreement regarding a potential offer by Walmart to acquire all of the issued ordinary shares in Massmart. The Massmart share price jumped by 42% on this news.

Sun International Limited- Unaudited interim group consolidated results for the six months ended 30 June 2022

• Group income grew 37% to R5.2 billion.
• EBITDA grew 99% to R1 474 million.
• Basic EPS grew 394% to 94 cents per share.
• The board declared a gross interim dividend of 88 cents per share, to be paid on Monday, 19 September 2022.

Sea Harvest Group Limited- Interim results for the six months ended 30 June 2022

• Revenue grew 29% to R2 705 863 000.
• EBIT decreased 10% to R286 916 000.
• Profit after tax fell 10% to R180 078 000.
• Basic EPS fell 14% to 67 cents per share.

Advtech Limited- Interim results for the six months ended 30 June 2022 and announcement of dividend declaration

• Revenue increased by 18% to R3 380 million.
• EPS increased by 22% to 67.3 cents per share.
• The board declared an interim dividend of 23 cents per share, up from 19 cents per share, to be paid on Monday, 19 September 2022.

The U.S.

Netflix

• The live-action Resident Evil series on Netflix has been cancelled after just one season.

Disney

• Disney has secured the rights to air four years of global cricket events to its subscribers in India.

Tesla

• Tesla Supplier Panasonic has Planned an Additional $4 Billion EV Battery Plant in the US.
• Oklahoma is a top contender for the new site after Kansas won an earlier investment.

Walmart

• Walmart has offered to acquire the remaining 47% of South African retailer Massmart that it doesn't already own for around $377.6M.

Biggest winners and losers

JSE

• Massmart +42.71%
• Sibanye Stillwater -5.10%

U.S.

• Pinduoduo +18.12%
• Electronic Arts -1.78%

Crypto

• Bitcoin +0.9%
• Ethereum 2.2%
• BNB +1.0%