by Rowan Goeller | Nov 5, 2021 | Construction and Basic Materials
Its about Volumes Not Prices Key message: Iron ore prices have retreated significantly, but we still forecast revenue in FY24 to be 2.4 times that in FY21 due to volume growth in existing and new mines. Afrimat released 1H FY22 results, with HEPS up 60.5% to 295.1c...
by Rowan Goeller | Oct 21, 2021 | Construction and Basic Materials, General
August 2021 Key message: July and August imports have been relatively high given the looting and port issues over the period. Government localisation policies will have minimal impact on imports. August 2021 saw imports of 75 944 tons, after 79 516 tons were imported...
by Rowan Goeller | Oct 18, 2021 | Construction and Basic Materials
Key message: With the restructuring complete margins and profitability are improving, with a strong 2H expected. Calgro released 1H FY22 results. Revenue increased by 46% at an improved gross profit margin of 19.7% (17.5% developments, 60% memorial parks). Management...
by Rowan Goeller | Oct 13, 2021 | Construction and Basic Materials, General, Industrials
A Deep Dive In this presentation we have an in-depth look at the South African Cement industry (including aggregates and ready-mix). Download presentation here
by Rowan Goeller | Oct 4, 2021 | Construction and Basic Materials
Key message: 1H FY22 will get a boost from high iron ore prices, but the recent iron price pullback is not unexpected and built into our forecast. Growth is driven by production increases, not higher than normal commodity prices. Afrimat released a Trading Update for...
by Rowan Goeller | Sep 30, 2021 | Construction and Basic Materials
Key message: a positive trading update with the removal of an undertaking for a capital raise the highlight. PPC released a restructuring and operational update for the six months to September 2021.The highlight is the removal of the undertaking for a capital raise as...
