South Africa | JSE

News: Helium and LNG offtakes lining up nicel, Spot Prices: Moving in Renergen’s favour, Valuation and Implied Return: Contrary to share price weakness...

ARB Holdings released exceptionally strong FY 21 results with revenue roaring ahead by +24% y/y (and +8% versus FY 19) to R2.9bn (FY 20: R2.3bn) driven by a recovery in both Electrical and Lighting that is likely to carry into FY 22E (at least).

The Ghana Stock Market at the close of the week lost 15.08 points to close the week with a YTD return of 41.11% on the back of price decline in Scancom PLC (MTNGH). On the other hand, five (5) equities made gains during the week under review.

Renergen’s operating loss was smaller than expected despite a small revenue miss as lost production (due to the lockdown) was offset costs. The Group spent R125.7m on assets under construction, capitalized R21.5m intangible assets and made a second draw down on its US International Development Finance Corporation (DCF) loan to the tune of $12.5m. The Group’s short-term unencumbered cash reserves sit at R130m. Progress Updates: Almost Entire Positive