[ad_1]
Murray & Roberts (JSE code: MUR) horror update.
“working capital requirements are especially acute”
“financial results for the six months period ending 31 December 2022, to be at least 100% down”
This is not South Africa at all, it’s Australia and the US. We’ve seen Wilson Bayly (JSE code: WBO) walk away from their Australian operations.
Low margins and bankers not keen on bonding projects are going to crunch this industry globally. I would suggest Aveng (JSE code: AEG) is not immune either.
The only time this industry really made money was in the run-up to the world cup, and they were colluding to get operating margins of +5%. So really this is a bust industry.
That all said, decent results from Calgro M3 (JSE code: CGR) while we wait for Balwin (JSE code: BWN).
Simon Shares
- MTN (JSE code: MTN) ditches Telkom (JSE code: TKG) over their Rain talks.
- Pick n Pay (JSE code: PIK) results. Not bad but the market hated selling the stock down 9.3%. Is the issue valuation? Forward PE is ±29c vs. Shoprite* (JSE code: SHP) is on ±21x.
- Combined Motor Holdings* (JSE code: CMH) great results driven by car rentals surging. But it going to be tough going from here.
- UK inflation returns to 40-year high of 10.1%.
JSE – The JSE is a registered trademark of the JSE Limited.
JSE Direct is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.
[ad_2]
Image and article originally from justonelap.com. Read the original article here.