Our opinion on the current state of CA-SALES(CAA)CA Sales listed on the JSE on 27th June 2022 and traded 34 deals on the day, opening at 505c and closing at 745c. The company supplies food, health, alcohol, and fast-moving consumer goods (FMCG) to a wide range of companies. It is involved in warehousing, distribution, marketing, and point-of-sale.
In its results for the year to 31st December 2023, the company reported revenue up 19,4% and headline earnings per share (HEPS) up 25,3%. The company said, "Total assets increased by 26.0% to R5.2 billion due to the increase in fixed and intangible assets as a result of business combinations as well as working capital due to increased revenue."
In a trading statement for the six months to 30th June 2024, the company estimated that HEPS would increase by between 17% and 22%. This was one of the only new listings on the JSE in 2023 and, after an initial period of sideways movement, the share price has been rising steadily.
We added it to the Winning Shares List on 25th August 2023 at a price of 775c. By 12th August 2024, it was trading for 1366c, a gain of 76% in a year. We believe it will continue to perform.
