The Daily Update: 14 June

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

South Africa

The SPAR Group Limited- Interim results for the six months ended 31 March 2023

• Group turnover for the Group increased by 7.9% to R72.9 billion.
• Operating profit declined by 17.5% to R1.5 billion.
• Diluted headline earnings per share decreased by 30.2% to 447.7 cents.
• Net asset value per share increased by 27.5% to 5,576.0 cents.
• The group opened 58 new stores during the period.
• SPAR Southern Africa reported a 5.6% increase in turnover, with the core grocery business growing by 7.9%.
• BWG Group (Ireland and South West England) saw a turnover increase of 8.8% in EUR terms.
• SPAR Switzerland's turnover declined by 4.3% in CHF terms.
• SPAR Poland achieved turnover growth of 4.9% in PLN terms.
• The board decided not to declare an interim dividend for the period.

Naspers Limited- Trading statement

• EPS for total operations is expected to decline by between 49.8% and 56.8%.
• HEPS for total operations is expected to decline by between 75.1% and 82.1%.

Prosus- Trading statement

• Earning per Naspers share for total operations is expected to decline by between 39.8% and 46.7%.
• Headline earnings per Naspers shares is expected to decline by between 74% and 80.9%.

The U.S.

AI

• The SEC is moving to introduce new rules for brokerages using AI to interact with clients.

Microsoft

• Microsoft CFO Amy Hood told investors that new AI-powered services including those powered by OpenAI will contribute at least $10B to the companys revenue.

CPI

• CPI for May just came in at +4% YoY below expectations of +4.1%.

AMD

• AMD has announced the launch of its 4th Gen AMD EPYC "Bergamo".
• Oracle and Amazon Web Services have announced today new products using AMD chips.
• AMD CEO Lisa Su just said AI is AMD's "largest and most strategic long-term growth opportunity".
• She also said that AMD sees the total addressable market for data center AI to reach $150B+ by 2027.