PDSnetSA

PDSnetSA

Caxton (CAT) is a South African printer and publisher. This company is at the heart of the displacement of hard copy by digital and it is adjusting by reducing costs and trying to move across to digital platforms. But there has been a steady erosion of advertising revenue and even before COVID-19, the purchase of magazines has been in decline. In its results for...

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Capitec Bank (CPI), now the country's largest bank by customer numbers (up 14% to 18,1m), was launched by PSG, and has been a major disrupter in the South African banking system. It has steadily taken retail market share from the other banks by offering a cheaper and easier solution, especially for the previously unbanked section of our population. The company is...

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Trellidor (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...

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The Foschini Group (TFG) is an international retailer of 28 fashion brands. It has 4083 trading outlets in 32 countries around the world. It has a division in London and one in Australia, aside from its extensive presence in the South African market. One of the notable achievements of TFG is that it has managed to establish a successful business in Australia where...

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Sanlam (SLM) is one of the largest insurance and financial services groups in South Africa. It was established in 1918 and demutualised in 1998 and then listed on the JSE and the Namibian Stock Exchange. It has operations in South Africa, the UK, America, Europe, India, and Australia as well as a range of other African countries. Its product range includes general...

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Bell (BEL) is a manufacturer and distributor of heavy equipment, earth-moving equipment to the mining construction, agriculture, and waste management industries. As such, it has been directly impacted by the slow-down in construction since 2008 and collapse of the mining industry. Bell's articulated dump trucks are exported world-wide from South Africa and...

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African Rainbow Minerals (ARI) is a diversified mining company controlled by Patrice Motsepe, involved in a variety of mining ventures. Its interests include platinum group metals (PGM), iron ore, manganese, chrome, coal and copper. It also owns 12,2% of Harmony Gold. There has been some speculation about a possible acquisition. One possibility is an involvement...

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Pan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant it will be able to produce about 700 000 ounces of gold a year at a cost of about R450 564 per kilogram against a current gold price of close to R1m. This means that over its life it will produce revenue of approximately R15bn of which R5,3bn will go back...

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MAS (MSP) is a real estate investment trust (REIT) which invests in office, commercial, logistics, retail, and hospitality properties in Europe and the UK. This REIT was started by Martin Slabbert and Victor Semionov who are well known for establishing NEPI - which merged with Rockcastle. They are very highly regarded as European property experts. The company is...

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Anglovaal Industries (AVI) is a generalised producer of consumer products in the food, cosmetics, and apparel sectors. It has a diverse range of very well-known South African brands such as I&J fish, Five Roses tea, Salticrax, Frisco, Provita, Yardley, Spitz and Kurt Geiger. The company announced that it had sold its Australian sea food company Simplot for R633m...

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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...

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Cognition (CGN) is a group of companies which specialises in agency-based payment systems, fax to e-mail services, knowledge creation and management. Cognition describes itself as "...a multi-disciplinary data collection, communication, research and marketing company that provides a broad range of services to Fast Moving Consumer Goods (FMCG) companies, media and...

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Brimstone (BRT) is a black-controlled investment holding company with a diverse portfolio of holdings. It owns: 1. 54,2% of Sea Harvest, which is a listed fishing company and has a market capitalisation of just over R4,5bn. 2. 100% of Lion of Africa, a loss-making insurance company, which decided in November 2018 to cease operations and close its doors. 3. 100% of...

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Bidvest (BVT) is a highly diversified South African company with dozens of subsidiaries. Its most notable investments are 66% of Bidvest Namibia which also owns a large property portfolio rented out to various Bidvest companies and 50.1% of Adcock Ingram. Its subsidiaries are organised into 6 divisions - Services, Freight, Automotive, Office, Print & Commercial...

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Shoprite (SHP) is the largest grocery retailer and consumer goods company in Africa. Intense price competition has prevented supermarkets from passing on price increases to consumers. The share price was hammered down from a high of R275 in March 2018 to levels around R100 in July 2020 but has since recovered strongly. We expect it to benefit directly from any...

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Aspen (APN) is a pharmaceutical company which trades in 150 countries in a wide range of specialty and branded products aimed at a range of acute and chronic medical conditions. They have 25 manufacturing facilities on 15 sites. Their main product categories are thrombosis, anaesthetics, cytotoxics and nutritionals. Pharmaceuticals generally are a defensive...

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Harmony (HAR) is probably South Africa's most marginal gold mine. A marginal gold mine is one which has a cost of extraction which is relatively close to the current gold price. This means that small movements in the rand price of gold can have a radical impact on the mine, pushing it from profit to loss and back to profit very quickly. The result tends to be a...

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The sad fall of the Woolworths share (WHL) price was occasioned by the decision of previous CEO, Ian Moir, and his board to buy David Jones in Australia for AU$2,1bn which has now had R12bn written off its original purchase price of R20bn in 2014. The only aspect sustaining the Woolworths group was its food sales. Woollies announced on 14th January 2020 that they...