Sunday, April 21, 2024

Sefalana leads gainers on BSE as reporting season kicks in

The reporting season is here and most of the Botswana Stock Exchange (BSE) counters will be influenced by earnings as listed companies publish their results.

So far, Sefalana Holdings Limited is leading the blue chip counters having reported superb group results for six months to 31 October, 2014. The results show that revenues went up by 32 percent from P1.2 billion on the prior year to P1.6 billion.

The good news was translated to its share price as it has been one of the major gainers on the local bourse since the beginning of the year. Tracking the stock performance on Friday, Motswedi Securities said Sefalana put in a straight 5th week of gains (since the beginning of the year) to trade at a new 12 month high of 956thebe.

“The retail consortium released its HY results achieving a 32% growth in revenues,” said the research house. Equally, Letshego Holdings, the pan African consumer lender recently released a market update, which revealed it would make improvements in earnings that are also replicated by its stock performance.

“Letshego rebounded by 2thebe to trade at 249thebe as markets responded to their recent trading statement which stated that the group financial results for the year ended 31 December, 2014, are expected to show growth in advances and an increase in profit before tax of at least 20%,” added Motswedi.

Shareprice for tourism company, Chobe Holdings, is also doing well after the group announced it is engaged in discussions to acquire an asset. On Friday, Chobe closed at a new 52 week high of 442 after advancing by 0.9 percent, according to Motswedi Securities.

“The tourism outfit which has surged by 3.5% for the year thus far, is trading under cautionary, which stated that the group is currently engaged in discussions in respect of a potential transaction which, if successfully concluded, may have a material effect on its share price. On the foreign board, Shumba edged up by 0.9 percent trading at 110thebe,” Motswedi Securities further added.

Sechaba Brewery Limited, which released its Performance Update for the period ending December 2014, was trading up on Monday with the stock P0.38 to trade at 2850.

The Botswana Insurance Holdings Limited (BIHL) was trading at 1180 on Monday up P0.05, while Chobe improved slightly from Friday and trading at 443 up P0.01. Sefalana traded at 965 up P0.09 while Choppies was down P0.01 to trade at 401.

As of Friday, G4S plummeted by 4.4 percent to trade at 325thebe. The security giant which has lost 12.6 percent on a year to date will be expected to release their year-end results. Choppies also closed in the red, shedding 0.7 percent to trade at 402thebe as profit takers came on board.


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