Wiese's Tradehold leads market higher in October

Posted On Thursday, 12 November 2015 11:39 Published by
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Tradehold steamed ahead to end October firmly in the black – extending an impressive run for the year, barring a few exceptions when it softened.

Christo_Wiese

Having surged a tad below 15%, to end October at R23.50 per share (or R4.36 billion in market cap), this Britain-based investment holding firm emerged as the sector’s best performer on the JSE.

The -chaired group announced this week that its pre-tax profits soared 66% to hit €8.4 million for the interim period ended August 31, on the back of a 21% growth in revenues to €12.2 million.

Claiming the second spot of last month’s top performers is Arnold Maresky’s Ingenuity, which gained a mouth-watering 14% to end October at 98c/share. Like Tradehold, Ingenuity has notched a middling 15%-plus since January, though that is markedly lower than the 95% recorded by the dazzling Fortress-B. This rise, however, is in line with the SA Listed Property Index.

On the monthly charts, Rebosis came in third after collecting 13.2%. Rebosis full-year results, published on October 28, painted a bleak picture. Sisa Ngebulana’s firm swung to a loss of R5.6 million this year after chalking R306 million in profits previously. The stock has had a less than stellar 2015 on the bourse, underperforming the SAPY by miles. Delta Properties and Capital & Regional Plc, also boasting double-digit growth rates for the month, took the fourth and fifth places respectively.

Amid a robust climate, there were some disappointments too. Synergy-B, already one of the worst performers for the year, ended October on the basement. This counter plunged 19% to end the month at R6/share after scraping just 1.1% in September and ending August and July unchanged. The stock, like other laggards in the worst five, is nowhere close to the SAPY.

The list of the five worst performers includes Delta International, which shed 7.4%, and Freedom Property Fund, which ended the month 5.6% lower. Now at 17c/share, the Tyrone Govender-led firm is the worst performer for the year, having crashed 57.5% of shareholder value since January, while Delta has plunged 23.5%. For its part, Indlu reversed 5.6% last month. On a year-to-date basis, Indlu and Rebosis have gained no more than 5% versus the SAPY, which is up a so-so 15.6% or the 19.8% rise recorded by the Capped Property Index.

Hospitality-B, which has had an excellent 2015, skyrocketing 65.1% – second only to Fortress-B (on the verge of doubling its value) – took a breather. In October, Hospitality-B lost 3% after vaulting 7.8% in September and powering ahead a mighty 29.2% a month earlier.

Last modified on Wednesday, 03 February 2016 11:53

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