The Daily Update: 29 May

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

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