The Daily Update: 24 May

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

South Africa

RFG Holdings Limited- Results for the six months ended 2 April 2023

• Group revenue increased by 10.2% to R3.8 billion.
• Regional revenue grew by 9.5% while international revenue increased by 13.2%.
• Group operating profit rose by 43.2% to R346 million, with operating margins improving in all segments.
• Headline earnings increased by 37.1% to R217 million, and diluted headline earnings per share grew by 37.5% to 82.9 cents.
• Slower consumer spending and a competitive environment led to volume pressure in certain product categories.
• Capital expenditure of R143.5 million included plantation expansion and replacement.
• Outlook: Volumes in the regional business are expected to remain under pressure, while international pricing and demand for canned fruit products are expected to be maintained.
• Planned capital expenditure of R280 million, including renewable energy installations and capacity expansion.
• Accelerated renewable energy program in response to load shedding, with multiple installations planned.

The U.S.

Zoom

• Cathie Wood and Ark Invest bought 267 132 shares of Zoom yesterday.