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TRELLIDOR HLDGS LTD

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Our opinion on the current state of TRELLIDOR(TRL)RCL is a large producer of food, sugar products, and chicken in South Africa, which is owned 80.4% by Remgro. The company owns a number of very well-known South African brands such as 5 Star maize meal, Farmer Brown, and Yum Yum peanut butter. It competes with overseas imports of sugar, chicken, and other foods. It was impacted by the listeriosis outbreak, which damaged the market for processed meats and caused costs estimated at about R158m. The company has been impacted by the weak economy, low consumer spending, and high unemployment. The company, through the SA Poultry Association, is petitioning the International Trade Administration Commission (ITAC) for an 82% increase in the tariffs on imported chicken. On 2nd December 2020, the company announced that Remgro had increased its stake by buying 100m shares at R8,05 each. On 29th March 2023, the company announced that it had sold Vector Logistics for R1,25bn. On 4th June 2024, the company announced that it would unbundle and separately list Rainbow Chicken. RCL shareholders got 1 Rainbow share for every RCL share that they held on 25th June 2024. On 10th June 2024, the company published Rainbow's pre-listing statement, with the last day to trade being 25th June 2024. In its results for the year to 30th June 2024, the company reported revenue up 6.8% and headline earnings per share (HEPS) from continuing operations up 31%. The company said, "EBITDA from continuing operations increased by 36.8% to R2 300,5 million (2023: R1 681,6 million). This was mainly driven by a strong result in our Sugar business unit and the recovery of service levels in the Pet Food business within Groceries." In a trading statement for the six months to 31st December 2024, the company estimated that HEPS would increase by between 31.2% and 38.6%. The company said the increase was, "...largely due to, amongst other items, the current period EPS including the non-cash gain realised on accounting for the unbundling of Rainbow, and the comparative period EPS including the gain on disposal of Vector Logistics." The share has been drifting down since Rainbow was unbundled but may now be at the start of a new upward trend.
JSE:TRL
by PDSnetSA
Our opinion on the current state of TRELLIDOR(TRL)Trellidor (TRL) is a long-established manufacturer of barrier security products, blinds, and security shutters, having been in business since 1976. The company is divided into two main divisions: the Trellidor business, which focuses on security barriers, and the Taylor business, which produces security and decorative blinds. Taylor also imports and distributes cornicing and skirting. With 70 franchise outlets in South Africa and representation in 24 countries (17 of which are in Africa), Trellidor has built a strong brand over the years. As a company linked to the construction and home improvements industry, Trellidor is sensitive to economic conditions, but it has been well-managed and maintains a strong balance sheet. The business has benefitted from the shift toward work-from-home setups and the low-interest-rate environment, both of which have driven demand for home improvements. Additionally, Trellidor has supported its share price through share buy-backs. In its results for the year ending 30th June 2024, Trellidor reported a 12.6% increase in revenue, and headline earnings per share (HEPS) grew to 36.1c, up significantly from 4.2c in the previous period. The company noted "declining revenue in the domestic market and elevated opening debt levels as at 30 June 2023, at higher interest rates." However, it also highlighted growth in its international revenue, which increased to R173.0 million, and a reduction in net debt from R146.7 million to R115.7 million, driven by improved profitability and better working capital management at Taylor. Despite being a thinly traded share, with an average daily trading volume of only about R53,000, Trellidor has shown signs of breaking to new higher levels, potentially attracting more institutional interest. Given the continued demand for security products in South Africa, the company's focus on security solutions positions it well for long-term growth, even though its trading volume makes it a riskier investment option.
JSE:TRL
by PDSnetSA
Our opinion on the current state of TRELLIDOR(TRL)Trellidor (TRL) has been a manufacturer of barrier security products, blinds, and security shutters since 1976. The company operates through two main divisions: the Trellidor business, which focuses on security barriers, and the Taylor business, which produces security and decorative blinds. In addition, Taylor imports and distributes cornicing and skirting. Trellidor has 70 franchise outlets across South Africa and a strong, well-recognized brand. It also has a presence in 24 countries, 17 of which are in Africa. As a company closely tied to the construction and home improvement industry, Trellidor’s performance is affected by the broader economic environment. However, it is well-managed, with a strong balance sheet. It stands to benefit from any improvement in the economy and has already gained from the work-from-home trend and low interest rates. The company has been conducting share buybacks, which has helped support its share price. In its results for the six months ending 31st December 2023, Trellidor reported a 6.9% increase in revenue but a 16.1% decrease in headline earnings per share (HEPS). The decline was attributed to "declining revenue in the domestic market; and increased opening debt levels as at 30 June 2023, at higher interest rates." In a trading statement for the year ending 30th June 2024, the company estimated that HEPS would be between 35.68c and 36.52c, compared to 4.2c in the previous year. This significant improvement is largely due to strong performance from the UK division, which offset weak demand in South Africa. While Trellidor is a relatively thinly traded share, with around R52,000 worth of shares changing hands daily, its recent upward movement suggests it may be attracting some institutional interest. Security remains a priority for South Africans, which gives the company a steady demand base. However, the low trading volume makes it a riskier investment.
JSE:TRL
by PDSnetSA
Our opinion on the current state of RTLTrellidor (TRL) is a manufacturer of barrier security products, blinds and security shutters since 1976. The company is divided into the Trellidor business (security barriers) and the Taylor business (security and decorative blinds). Taylor also imports and distributes cornicing and skirting. The company has 70 franchise outlets in South Africa and a very strong brand name. The company has representation in 24 countries, 17 of which are in Africa. Obviously, this company is linked to the construction and home improvements industry and so it is at the mercy of the state of the economy. It is well managed and has a strong balance sheet. It should benefit directly from any improvement in the economy and has benefited from the work-from-home shift in the economy as well as the low level of interest rates. The company has been engaging in share buy-backs which support the current share price. In its results for the year to 30th June 2023 the company reported revenue down 2,1% and headline earnings per share (HEPS) 4,2c compared with 0,4c in the previous year. The company said, "The Group’s gross profit margin of 38.5% was in line with the previous financial year (F22: 38.4%). However, maintaining the Group’s gross profit margin has not compensated for lower sales, resulting in a R3.9 million reduction in Group profitability compared to the prior year". Trellidor is a relatively thinly traded share which increases risk. Obviously, security remains a priority for South Africans.
JSE:TRL
by PDSnetSA
Our opinion on the current state of TRLTrellidor (TRL) is a manufacturer of barrier security products, blinds and security shutters since 1976. The company is divided into the Trellidor business (security barriers) and the Taylor business (security and decorative blinds). Taylor also imports and distributes cornicing and skirting. The company has 70 franchise outlets in South Africa and a very strong brand name. The company has representation in 24 countries, 17 of which are in Africa. Obviously, this company is linked to the construction and home improvements industry and so it is at the mercy of the state of the economy. It is well managed and has a strong balance sheet. It should benefit directly from any improvement in the economy and has benefited from the work-from-home shift in the economy as well as the low level of interest rates. The company has been engaging in share buy-backs which support the current share price. In its results for the six months to 31st December 2022 the company reported revenue down by 3,6% and headline earnings per share (HEPS) up 0,4%. The company said, "The operating environment remained challenging through the first half of the 2023 financial year (“F23”), in part, due to the sustained economic pressure the South African consumer is facing, spend increasingly being allocated to back up power and water systems to mitigate electricity and water supply disruptions". In a trading statement for the six months to 30th June 2023 the company estimated that HEPS would increase by at least 20%. Trellidor is a relatively thinly traded share which increases risk. In a trading statement for the year to 30th June 2023 the company estimated that HEPS would be between 4,16c and 4,24c compared with 0,4c in the previous year. The company said, "the audited financial results for FY22 included a provision of R32.1 million for the limited back-pay, restructuring costs and legal costs relating to the Labour Appeal Court judgement received in April 2022 (“Labour Court Judgement”)". Obviously, security remains a priority for South Africans.
JSE:TRL
by PDSnetSA
Our opinion on the current state of TRLTrellidor (TRL) is a manufacturer of barrier security products, blinds and security shutters since 1976. The company is divided into the Trellidor business (security barriers) and the Taylor business (security and decorative blinds). Taylor also imports and distributes cornicing and skirting. The company has 70 franchise outlets in South Africa and a very strong brand name. The company has representation in 24 countries, 17 of which are in Africa. Obviously, this company is linked to the construction and home improvements industry and so it is at the mercy of the state of the economy. It is well managed and has a strong balance sheet. It should benefit directly from any improvement in the economy and has benefited from the work-from-home shift in the economy as well as the low level of interest rates. The company has been engaging in share buy-backs which support the current share price. In its results for the six months to 31st December 2022 the company reported revenue down by 3,6% and headline earnings per share (HEPS) up 0,4%. The company said, "The operating environment remained challenging through the first half of the 2023 financial year (“F23”), in part, due to the sustained economic pressure the South African consumer is facing, spend increasingly being allocated to back up power and water systems to mitigate electricity and water supply disruptions". In a trading statement for the six months to 30th June 2023 the company estimated that HEPS would increase by at least 20%. Trellidor is a relatively thinly traded share which increases risk. It gave a strong on balance volume (OBV) buy signal on 22/9/20 at 190c and then moved up to 300c. Since then it has come off a little. Obviously, security remains a priority for South Africans. On 28th October 2020, the company announced that it was buying 100% of its UK franchisor, Really Secure, for about GBP1,5m.
JSE:TRL
by PDSnetSA
Trellidor Symmetrical Triangle potential signs of up or down Trellidor Symmetrical Triangle showing conflict Symmetrical Triangle formed on Trellidor. This is a consolidation pattern where the price converges and then usually breaks out into the prior trend. Hence it's a Continuation Pattern. Now we have seen higher lows. and the price is showing signs of upside. But then we have momentum indicators saying otherwise. 21>7 Price>200 Bearish Higher lows Target up if it breaks out is R3.20 Target down if it breaks out is R1.43 ABOUT THE COMPANY Trellidor is a South African company that designs, manufactures, and installs customizable security barriers for residential and commercial use. Founding: Trellidor was established in 1976 in Durban, South Africa. The Name: The name "Trellidor" is derived from the word "trellis", which is a framework of light wooden or metal bars, typically arranged in an intersecting pattern, often used as a support or barrier. This reflects the company's primary product - trellis-style security gates. Headquarters: Trellidor's headquarters are in Durban, South Africa. Public Listing: Trellidor has been listed on the Johannesburg Stock Exchange (JSE) since 2015. Global Presence: Trellidor's products are distributed to end-users through a wide international distribution network in 22 countries worldwide. Diverse Product Range: The company offers a wide range of customizable security products, including retractable security gates, burglar guards, security screens, rollerstyle shutters, and more. Innovation: Trellidor has a history of innovation in its products, including patents for its trellis-style designs and other proprietary security solutions.
JSE:TRL
by Timonrosso