Spur looking good and Sasol dividends (#508)
WorldWide Markets with Simon Brown · JustOneLap.com
August 24, 202221m 10s
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Show Notes
Simon Shares
- Nasdaq (650 points), S&P500 (80 points) & Euro Stoxx50 (22 points) trades all closed. FTSE100 still going currently +100 points.
- Old Mutual BEE deal, will go into details, but it only closes in late October so no rush.
- Spur (JSE code: SUR) looking very good.
- PE ±15x and DY ±5%
- From the Spur earnings call "And we know that only 18% of the South African adult population represents 80% of economically viable consumer segment."
- Revenue at record with space to get margins back to pre-pandemic levels. Net income margin was ±5%, historically over 20%.
- [caption id="attachment_36416" align="aligncenter" width="849"] Spur; revenue, net income, NI margin[/caption]Afrimat (JSE code: AFT) Gravenhage manganese mine deal failing due to the Water Use License being materially different. They raised ±R650million last month.
- Purple Group* (JSE code: PPE) does a deal in Asia.
- Kap Industrials (JSE code: KAP) good results and great insights into other industries.
- Citi now says UK inflation to hit 18% early next year (last week they said 15%).
- Sasol (JSE code: SOL) pays a dividend, 1470c.
Sasol: To answer a separate Q: The EBIT profit split is: •Energy: 58% •Chemicals: 42% (Despite the high chemicals contribution, it is amazing to see how closely Sasol's profit still conforms to the old back-of-a-matchbox calc of 5% of the Rand oil price.)
— Karin Richards (@Richards_Karin) August 23, 2022