The Daily Update: 31 May

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

South Africa

Capital Appreciation Limited- Trading statement

• EPS is expected to be between 7.29 cents and 7.49 cents, representing a decrease of between 44% and 45.5%.

Lewis Group Limited

• Lewis Group has repurchased 2 801 999 shares for a total value of R114 042 815.

The Spar Group Limited- Trading update and trading statement

• EPS is expected to be between 393.6 and 454.1 cents, representing a decline of between 25% and 35%.
• SPAR Group Limited reported a 7.9% increase in turnover to approximately R72.9 billion for the six months ended 31 March 2023.
• SPAR Southern Africa experienced total turnover growth of 5.6%.
• The grocery and liquor turnover in SPAR Southern Africa increased by 6.5%, with grocery sales growing by 7.9% and TOPS at SPAR liquor sales declining by 1.9% due to high sales in the prior comparative period.
• Build it, a subsidiary of SPAR Southern Africa, saw a decline in turnover by 3.8% due to the slowdown in the building sector.
• BWG Group in Ireland and South West England recorded strong performances with an 8.8% increase in turnover.
• SPAR Switzerland reported a decline in turnover by 4.3%, primarily due to volume declines and the transfer of corporate stores to independent retailers.
• SPAR Poland achieved a 4.9% increase in turnover, despite terminating contracts with 58 retailers in July 2022.
• SPAR's wholesale grocery business had a sales growth of 7.9% in South Africa, despite the challenges of SAP software implementation.
• The pharmaceutical business, S Buys Pharmacy at SPAR, delivered a strong sales growth of 20.0%.
• Loadshedding in South Africa negatively impacted retailer profitability, with estimated additional costs of over R700 million for SPAR retailers.

Renergen Limited

• Revenue increased by 381% to R12.7 million, from R2.6 million in the prior corresponding period.
• Headline loss per share decreased by 28.3% to 19.89 cents per share, from 27.73 cents per share in the prior corresponding period.
• Loss per share decreased by 28.4% to 19.86 cents per share, from 27.73 cents per share in the prior corresponding period.

The U.S.

Berkshire Hathaway

• Warren Buffett and Berkshire Hathaway have just filed for its purchase of 4.66 Million additional shares of Occidental.

Tesla

• Tesla's Model Y is the first ever EV to become the world's best-selling car during a quarter beating out Toyota's Rav4 and Corolla in Q1 according to analytics from Motor1.