JOHANNESBURG (Reuters) – South African stocks ended slightly lower on Friday as geopolitical tensions in the Middle East and Ukraine undermined demand for risky assets, adding to growing worries about valuations. Truworths headed the losers’ list, tumbling 3.6 percent to 72 rand after the clothes retailer reported a slowdown in annual sales growth. Overall, investors took their cue from … Read more
(Reuters) – Global brewer SABMiller Plc sold its $1 billion stake in South Africa’s top gaming and hotel group Tsogo Sun on Friday, disposing of a non-core business and giving it some cash to beef up its beer business in fast-growing Africa. SABMiller, which is also listed in Johannesburg, said it sold 294 million Tsogo Sun shares to institutional investors at 25.75 … Read more
Wilhelm Hertzog was the market commentator on the Power Lunch with Alec and Gugu today. Wilhelm is an analyst and portfolio manager at RECM, where they focus on value investing – the practice of buying stocks that are substantially undervalued so that they can benefit from the correction of the price over time. This investing philosophy … Read more
JOHANNESBURG (Reuters) –Â South Africa’s main stock index set a record high on Monday before losing steam to end slightly lower, as investors took their cue from a downbeat mood in major overseas markets. But African Bank Investments (Abil) surged after the lender said it was in talks to sell its money-losing furniture retail unit. One … Read more
By Sasha Naryshkine, Byron Lotter and Michael Treherne SABMiller this morning has announced that they will be exiting their Tsogo Sun investment, the brewer owns a 39.6 percent stake in the hotels and entertainment group. According to the annual report from March 31, SABSA held 36.8 percent, perhaps excluding the treasury shares it is far … Read more
LONDON (Reuters) – Global brewer SABMiller said on Monday it would dispose of its $1 billion stake in Tsogo Sun, the South African-listed gaming, hotel and entertainment group. SABMiller has a 39.6 percent shareholding in Tsogo Sun valued at approximately $1.09 billion. It said that following a strategic review, announced April 15, it would dispose of up to … Read more
Yesterday, we heard from David Shapiro that middle income consumers in South Africa are feeling the pressure as the slowing economy, rising interest rates and inflation, and rising unemployment begin to bite.  This sentiment is echoed in today’s interview with Tsogo Sun boss Marcel von Aulock. Tsogo delivered strong earnings growth of 18%, but von … Read more
Redefine International, a UK Real Estate Investment Trust, listed in London and Johannesburg, has announced that Tsogo Sun has invested GBP8.1 million to acquire a 25% interest in the hotel management company, Redefine BDL Hotel Group (RBDL), with effect from 1 May 2014. Following the Acquisition, the Company’s interest in RBDL, which has approximately 60 hotels under … Read more
One doesn’t often think of Telkom as operating at a competitive disadvantage, but when it comes to the cellular market, that’s exactly the situation. Compared to Vodacom and MTN, Telkom is a midget in terms of market cap, and while Vodacom and MTN trade at earnings multiples of 14 and 16 times respectively, Telkom trades … Read more
Tsogo Sun has released its finalised full year results for the period ended 31 March 2014. The hotel and gaming group currently holds a market cap of R34 billion, with a PE of 18.23 and a dividend yield of 2.78%. Tsogo’s shares are trading up by 17% on the year and have seen a significant growth … Read more