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Key message: Strong performance continues from Port of Maputo. Volumes should maintain into FY24 with expansion due from FY26. Grindrod released a Trading Update for the five months to May 2024. No HEPS guidance was provided. Ports & Terminals: The basket price of...

Forestry & Paper: Industry Insights

The second quarter witnessed continued momentum for pulp prices in both Europe and China, though this now appears to be easing. The dissolving wood pulp price saw an improvement of 4%, while the VSF price remained stable. In contrast, graphic paper prices experienced limited movement. Encouragingly, containerboard producers in Europe managed to increase their prices by 6-10%.

Sirius Real Estate: FY24 valuation update

Key message: Sirius’ FY24 performance met expectations, and marks a continuation of the ability of the management platform to consistently drive stable growth and strong value creation through the long-term and over multiple business cycles. Operational performance:...