The Daily Update: 13 April

The latest updates from the JSE and NYSE over the past

South Africa

Karooooo Limited

• The Company will release its fourth quarter financial results on Monday, May 8, 2023.

PSG Konsult Limited

• The company reported a 5% increase in recurring headline earnings per share, with total dividend per share increasing by 13%.
• PSG Konsult's assets under management increased by 13% to R354bn, and its gross written premium increased by 9% to R6.2bn.
• PSG Wealth had R305.5bn of assets under management, while PSG Asset Management had R48.6bn, and PSG Insure had R6.2bn of gross written premium.
• The board declared a final gross dividend of 25.0 ZAR cents per share.

Aveng Limited

• Aveng has reported the underperformance of the Batangas LNG terminal project in the Southeast Asia business unit of McConnell Dowell, resulting in losses and extended delays caused by COVID-19, supply chain disruptions, and the Russia-Ukraine war.
• McConnell Dowell has settled project guarantees with FGEN LNG Corporation for AUD 43 million and is expected to report an operating loss for the year ending 30 June 2023 due to anticipated additional costs and liquidated damages associated with delayed completion.
• The share price is down 20% today.

The U.S.

Amazon

• Amazon CEO Andy Jassy confirmed today that Amazon has been working on generative AI and its own large language models.
• "Lets just say that LLMs and Generative AI are going to be a big deal for customers, our shareholders, and Amazon".

Twitter

• Twitter has partnered with eToro to let users trade stocks, crypto and view charts on the app.