Highlights of the day: 5 September

FinMeUp highlights of the day

South Africa

Renergen Limited

• Renergen has announced that the Virginia Gas Project is now operational.
• The plant is now producing liquid hydrocarbons, and the helium module will soon produce liquid.
• Renergen has also begun filling bulk storage tanks to ultimately deliver its product to customers.
• This key milestone makes the Virginia Gas Project the first commercial LNG plant in South Africa.
• Renergen is now shifting its focus to full phase 1 capacity.

RCL Foods Limited- Group financial results for the year ended June 2022

• Revenue grew 10.2% to R 34.9 billion.
• EBITDA grew 7.7% to R 2 595.7 million.
• EPS grew 2.0% to 114.0 cents.
• The directors of the company have declared a final gross cash dividend of 30 cents per share to be paid on Monday, 24 October 2022.

The Bidvest Group Limited- Results for the financial year ended 30 June 2022

• Revenue grew 13% to R99.9 billion.
• Trading profit grew 23% to R9.7 billion.
• Cash generated from operations totalled R11.5 billion.
• EPS grew 32% to 1 492.2 cents.
• The directors have declared a final gross cash dividend of 364 cents per share, to be paid on Monday, 3 October 2022.

Naspers Limited- Update on repurchase programme

• Naspers has received approval from the SARB to sell Prosus Shares that it holds in order to fund the repurchase of Naspers Shares.
• The sale of Prosus shares will begin today.
• Naspers has arranged with two international investment banks in which the Banks will purchase Prosus Shares from Naspers periodically.

Old Mutual Insure

• Old Mutual Insure will acquire 100% of Genric Insurance Company Limited.

The U.S.

USA

• The U.S. markets are closed today due to holidays and will resume trading tomorrow.

Boeing

• Israel will ban Boeing 747s and similar aircraft with four engines as of March 31st, 2023 to reduce noise and air pollution.

Meta

• Meta has agreed to acquire Lofelt, a Berlin startup whose technology aims to replicate the illusion of touch in virtual reality.

Volkswagen

• Volkswagen's management and supervisory boards will meet on Monday to discuss whether they should go ahead with a Porsche IPO in late September or early October.

Ford

• Ford sold a total of 158,088 vehicles in the US during August up 27.3% YoY.
• They sold a total of 5,897 EVs in the US during August up 307.3% YoY.

Biggest winners and losers

JSE

• Thungela +6.00%
• Prosus -3.15%

Crypto

• Bitcoin +0.3%
• Ethereum +2.0%
• BNB -0.7%