The Daily Update: 1 March

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Woolworths Holdings Limited- Results for the 26 weeks ended 25 December 2022 and cash dividend declaration

• Turnover and concession sales increased by 18.5% to R49.9 billion.
• Profit before tax grew by 63.3%.
• EPS grew by 74.9% to 293.7 cents per share.
• Free cash flow per share increased by 29.3%.
• The company also repurchased shares worth R1.5bn in the period, bringing the total buyback over the past year to 4.3% of issued shares.
• The company has also entered into an agreement to sell its entire shareholding in its Australian subsidiary, David Jones, to transform its balance sheet and reallocate capital to its core businesses.
• The company said that loadshedding has reduced Southern Africa adjusted operating profit by R15 million per month.
• The Board has declared an interim dividend of 158.5 cents and will be paid on the 20th of March.

Sanlam Limited

• Sanlam has completed the acquisition of the Alexforbes Individual Client Administration business.

MTN Group Limited- Trading statement

• EPS is expected to increase between 35% and 45% to between 1 030 cents per share and 1 106 cents per share.

Aspen Pharmacare Holdings Limited- Group Financial Results for the six months ended 31 December 2022

• Revenue decreased by 1% to R19.2 billion.
• Normalised EBITDA decreased by 11% to R5.1 billion.
• EPS decreased by 18% to 602.0 cents.

The U.S.

Chevron

• Chevron has raised it's share buyback program to buying $10 to $20 billion worth of stock each year.