The JSE was boosted with a bounce in the Naspers share price following the release of results from Tencent. The rest of the market continues to battle for direction.
Here are some of the stories we picked up from the small and mid-cap sector which may be of interest to our community:
Transaction Capital bumps dividend
Shareholders in this JSE listed financial services group will be smiling with the release of results for the 6 months ended 31 March 2018. The company announced a 40% increase in the interim dividend with core headline earnings up 17%. The share closed up 1.9% on the day.
Capital Appreciation sticks to its guns
This is a stock we’ve been following quite closely and management seem to be executing on its strategy. For the 12 months ended 31 March, the company delivered a solid R571m in revenue and R162m in operating profit. Pleasingly for shareholders, management declared a further 2c final dividend taking the full-year pay-out to 4c/share while leaving R513m available for future investment.
Blue Label dips
The listed telco player has closed beneath R12/share, closing at R11.74/share. This takes its year-to-date return to -25%. In this post (https://www.decusatio.co.za/our-views/330/) we pointed to Blue Label directors being quite aggressive buyers between R12 and R13/share.
Tharisa enters Zimbabwe
The listed resources group announced an investment into a chrome operation in Zimbabwe. Tharisa also released interim results for the 6 months to end 31 March with revenue up 13.8% but net profit down 44%. An interim dividend was also declared.
Seabrooke tops up in Rolfes
Non-executive Christopher Seabrooke purchased 1.9m shares in the listed chemicals group, buying shares at between R3.06 and R3.10. According to analyst forecasts, the share is trading on a price to earnings multiple of under 4. Seabrooke also represents investment holding group Sabvest which holds 10% of the Rolfes shares.
Santova seeking acquisitions
The logistics group delivered full-year results for the 12 months ended 31 March, reporting a 13.5% in profit and an increase in the full year dividend. The company also announced that it would be seeking prioritising acquisitions in the coming year.
Recently listed technology group 4Sight saw shares up 18.8% – the biggest mover on Wednesday. This rise should be seen in the context of just 31 730 shares changing hands at between R1.17 and R1.40.