The Daily Update: 5 June

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

South Africa

Oceana Group Limited- Results for the six months ended 31 March 2023

• Revenue from continuing operations increased by 47.8% to R4.5 billion
• Operating profit from continuing operations increased by 87.5% to R648 million.
• EPS for the period were 318.6 cents, a significant increase from 133.9 cents in March 2022.
• Revenue growth was driven by strong demand for affordable protein, improved pricing, and the weaker rand exchange rate.
• Overhead expenditure increased due to higher employment costs, partially offset by non-recurring legal and audit fees.
• The Group received insurance proceeds of R72 million for the Hurricane Ida claim.
• Cash generated from operations grew by 60.5% to R563 million.
• Capital expenditure was R205 million, including investments in the USA fishmeal and fish oil business and SA production facilities.
• The Group's net debt increased to R3.0 billion, primarily due to increased working capital requirements and the weaker rand exchange rate.
• Canned fish and fishmeal, fishmeal and fish oil, and wild-caught seafood segments contributed to the Group's revenue and operating profit.
• Lucky Star's sales volumes increased, but lower operating margins were observed due to cost pressures and the impact of the weaker rand.
• Fishmeal and fish oil sales volumes in the USA saw a significant increase, driven by improved stock levels and strong pricing.
• The disposal of CCS Logistics was announced for R760 million, enabling the company to focus on strategic objectives in the global protein sector.

Sirius Real Estate Limited- Results For The Year Ended 31 March 2023 And Dividend Declaration

• FFO (Funds from Operations) increased by 36.9% to EUR 102.1 million, surpassing the EUR 100 million target within four years.
• Group annualized like-for-like rent roll increased by 7.7% to EUR 175.9 million.
• FFO per share increased by 28.9% to 8.74c.
• Investment property book value increased by 1.1% to EUR 2 123.0 million.
• Dividend increased by 25.7% to 2.98c per share, leading to a total dividend increase of 28.8% for the financial year to 5.68c.
• Net LTV remained constant at 41.6%.
• Operating profit decreased by 46.0% to EUR 101.6 million.
• Basic EPS decreased by 49.4% to 6.82c

Sygnia Limited- Financial Results for the six months ended 31 March 2023 and Dividend Declaration

• Assets under management and administration increased by 5.9% to R312.7 billion as of March 31, 2023.
• Revenue increased by 2.8% to R408.6 million.
• Profit after tax decreased by 0.5% to R138.4 million.
• HEPS declined by 0.9% to 91.8 cents.
• An interim dividend of 87.0 cents per share was declared, representing an 8.8% increase from the previous year.

Mondi PLC

• Mondi plc has withdrawn from the agreement to sell its significant facility in Russia, Joint Stock Company Mondi Syktyvkar, along with two affiliated entities, to Augment Investments Limited.
• The withdrawal is due to Augment's lack of progress in obtaining the necessary approvals to complete the transaction.
• The Sale and Purchase Agreement with Augment will be terminated, and the transaction will not proceed.

Tsogo Sun Gaming Limited- Change of name

• Tsogo Sun Gaming Limited will now be named Tsogo Sun Limited.

Clicks Group Limited

• Clicks Group has received approval from the Competition Tribunal for its acquisition of Sorbet Holdings, the owner of the Sorbet beauty salon franchise chain.
• The approval is subject to conditions related to advancing black ownership of Sorbet franchise salons, increasing local manufacturing of Sorbet branded products, and training of Sorbet staff.
• The transaction is now unconditional and Clicks Group will hold 100% of the issued share capital of all Sorbet group entities.

Steinhoff Investment Holdings Limited- Trading statement

• EPS is expected to be between 2 500 cents and 7 500 cents, representing a decrease of between 71.7% and 90.6%.