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Highlights of the day: 5 September

June 17, 2024
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FinMeUp
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FinMeUp

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%

 

 


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