The Daily Update: 29 June

July 17, 2023

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


South Africa

Argent Industrial Limited- Results for the year ended 31 March 2023

  • Revenue increased by 1.1% to R2 459 359 000
  • EBITDA rose by 12.8% to R360,043,000.
  • Operating profit grew by 15.2% to R304 358 000.
  • Profit for the year increased by 23% to R236 265 000.
  • Total assets reached R2 159 589 000, reflecting a 9.1% increase.
  • Total liabilities decreased by 7.9% to R646 596 000.
  • Total shareholders' funds rose by 18.4% to R1 512 993 000.
  • Net asset value per share increased by 19.9% to 2 683.6 cents.
  • Basic earnings per share increased by 25.2% to 413.1 cents.
  • Dividend per share declared is 95.0 cents, reflecting a significant increase of 126.2%

Pick n Pay Stores Limited

  • Pick n Pay Stores Limited has entered into a sale and purchase agreement to acquire 100% of the business operations of the Tomis group of companies for a purchase consideration of R340 million.
  • Tomis is a state-of-the-art abattoir and meat processing and packaging business that supplies lamb, beef, and other fresh meat products to wholesalers and retailers, including Pick n Pay. It operates under high standards of animal welfare, food hygiene, ethics, and the environment.
  • The acquisition of Tomis aims to enhance Pick n Pay's fresh meat offering and provide several benefits, including a higher-quality and more consistent red meat offer, the ability to develop innovative value-added products, reduced costs for red meat, centralized meat packaging for a more reliable supply, and sales growth opportunities.
  • The acquisition will involve an upfront cash consideration of R323 million and a fixed capped deferred price of R17 million payable on the third anniversary of the transaction. Laurie Terblanche, Tomis' managing director, will remain with the Group.

Sibanye Stillwater Limited- Dealings in securities

  • A chairman of Sibanye purchased 26 000 shares for a total value of R744 380.00.

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