The Daily Update: 19 January

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

South Africa

Woolworths Holdings Limited- Further trading statement and sale of David Jones

• EPS is expected to be between 285.4 cents and 302.2 cents per share, representing an increase of between 70% and 80%.
• The Groups turnover and concession sales for the 26 weeks ended 25 December 2022 increased by 18.5%.
• The contribution of online sales contributed to 10.9% of total turnover and concession sales, compared to 13.7% for the prior period due to customers returning to physical stores.
• Woolworths expects the sale of its entire shareholding in David Jones to be completed by March 2023.

BHP Group Limited- Quarterly activities report

• Western Australia Iron Ore achieved record production of 146 Mt for the half year.
• Production guidance for the 2023 financial year remains unchanged.
• BHP entered into a Scheme Implementation Deed with OZ Minerals Ltd to acquire 100% of OZL for a cash price of A$28.25 per OZL share.

The Spar Group Limited

• Harris Nupen Molebatsi, a law firm investigating the allegations that Spar was discriminating against certain retailers, has found that the allegations are unfounded.

Kaap Agri Limited- Integrated Annual Report

• Revenue grew by 48.4% to R15.7 billion.
• EBITDA grew by 21.8% to R673.2 million.
• Cash flow from operating activities of R213.1 million, despite the inflationary impact on working capital.
• ROE reported at 16.6% which exceeds the companys maximum target of 15%.

The U.S.

SpaceX

• Carnival and SpaceX announced a new partnership for SpaceX's Starlink to provide satellite internet on Carnival's cruise ships.

Cannabis

• Michigan marijuana sales reached a new record high in December.
• Michigan dispensaries sold $221.7 Million worth of legal Cannabis last month about $9 million more than the previous record set in September.