Our opinion on the current state of S-OCEAN(SOH)South Ocean (SOH) is a manufacturer of low-voltage electrical cables and an importer of light fittings and electrical accessories. The company has an electrical cable manufacturing plant at Alrode and employs 400 people. The company described itself as, "...an investment holding company, comprising two operating subsidiaries which manufacture low-voltage electrical cables, and which holds property for investment purposes." It also owns Anchor Park, which is a property company.
In December 2010, this share traded for as much as 245c, but then it fell back on persistent losses to trade at around 22c - on very thin volumes.
In its results for the six months to 30th June 2024, the company reported revenue up 5,7% and headline earnings per share (HEPS) down 10%. The company said, "Group profit before tax decreased by 10.6% (2023: 47.0%, increase in earnings before tax) to a profit of R59.0 million (2023: R66.0 million) compared to the prior period."
The share is in a strong upward trend, and volumes traded have increased sharply. The share was added to the Winning Shares List (WSL) on 6th July 2024 at 225c.
