Highlights of the day: 29 November

FinMeUp highlights of the day

South Africa

Capital Appreciation Limited- Results for the six months ended 30 September 2022 and cash dividend

• Revenue grew 22.5% to R538.1 million.
• Trading profit grew 2% to R150.5 million.
• EPS fell by 58% to 3.13 cents per share.
• Capital Appreciations divisions remain highly cash-generative, supplementing Group cash resources of R535.7 million.
• The board has declared an interim dividend of 4.25 cents per ordinary share which will be paid on Tuesday, 27 December 2022.

Grindrod Shipping Limited

• The cash offer conditions made by Good Falkirk (MI) Limited for all the issued ordinary shares in the capital of Grindrod Shipping have been satisfied and the Offer has become unconditional in all respects.

Vukile Property Fund- Results for the six months ended 30 September 2022

• In an effort to position Vukile well in a high-interest rate environment, 88% of debt expiring in FY23 has already been repaid, refinanced, or renegotiated.
• South African annualised net operating income growth of 4%.
• Sale of direct property assets of R280 million in South Africa.
• Fairvest shares were sold for R46.6 million.
• Acquisition of Pan Africa Shopping Centre for R421 million and is expected to be concluded by Q4 FY23.
• Interim dividend increased 16.8% to 47.32 cents per share.

Unemployment rate

• South Africas unemployment rate dropped to 32.9% from 33.9%, which is its lowest in one and a half years.

The U.S.

Amazon

• Amazon Web Services is rolling out new chips designed to power the highest-end of computing.

Shopify

• Shopify says it saw sales of $7.5 Billion during this Black Friday/Cyber Monday weekend up 19% YoY.