Sasol avoids rights issue as turnaround near complete
Sasol delivered a good set of half-year results with earnings increasing by more than 100% to R15.3bn from R4.5bn in the prior period.
Balance sheet
CFO on Naspers’s debt downgrade to “junk” status
Market watchers and commentators reacted with surprise and confusion to the downgrading of Naspers‘ senior unsecured debt to ‘junk status’ which is identified as non investment grade by Fitch. The general consensus is that the ratings agency is far off the mark with many finding the move unfounded, given the success and position of Naspers. Fitch’s … Read more
Amazon – a cash-compounding machine that justifies its PE ratio?
Amazon’s stocks are an inimitable example of success, boasting an astronomical PE ratio in the triple digits, despite its reducing operating margin curve. The demand for Amazon’s shares and what seems to be an unprecedented price often inspire headlines that question the validity of its giant status, ‘Is Amazon stock a falling knife?’ and ‘Amazon: why the … Read more
CASH is the Mario Pretorius mantra – Business Tip 5
The buffer, safety and anti-ulcer effect of great cash generation are sometimes tarnished as a Lazy Balance Sheet says management strategist Mario Pretorius. Cash is his mantra – and not generating enough of it can “whip the noose around the neck in a single accounting period,” he warns in his latest tip in the Unconventional … Read more
Is this a trend developing? ARB joins Special Dividend club, supports surging share price
Absa started the trend. But many of us thought that was an aberration driven by a needy parent. A logical conclusion, considering the controller Barclays Plc had simultaneously announced the third biggest rights issue in UK history. But when two smaller industrial companies announce special dividends on successive days, you have to start wondering whether a new … Read more