The Daily Update: 29 May

July 17, 2023

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


South Africa

Zeda Limited- Interim results for the six months ended 31 March 2023

  • Group revenue increased by 20% to R4 450 million
  • EBITDA increased by 19% to R1 671 million
  • Operating profit increased by 25% to R803 million
  • The Car Rental business experienced solid revenue growth of 26% driven by strong demand from Corporate, inbound and domestic travel.
  • The Leasing business remained stable with a 6% revenue increase and a focus on growing the heavy commercial fleet and increasing penetration.
  • The company made progress in repaying debt and improving its balance sheet.
  • The company remains committed to deepening the adoption of the user economy and executing strategic pillars to unlock value for shareholders.

Adcorp Holdings Limited- Results for the year ended 28 February 2023

  • Revenue from continuing operations increased by 6.5% to R12.0 billion.
  • Gross profit from continuing operations increased by 6.1% to R1.3 billion.
  • Operating profit from continuing operations before finance income and finance costs decreased by 18.4% to R164 million.
  • Cash generated by operations increased by 45.2% to R378 million.
  • Net cash position improved to R312 million.
  • Total EPS decreased to 37.3 cents per share from 109.1 cents per share.
  • Final dividend declared of 16.5 cents per share.
  • Special dividend declared of 91.3 cents per share.

Coronation Fund Managers Limited- Dealings in securities

  • CFM Deferred Remuneration Trust purchased 994 214 Coronation shares for a total value of R31 168 371.03.


The U.S.


  • Nvidia has announced the launch of "NVIDIA Spectrum-X".
  • The Nvidia Spectrum-X is designed to "improve the performance of Ethernet-based AI clouds".

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