COMPANY COMMENT: It’s now time for Reinet to beef up the portfolio
The sluggish pace at which Reinet has moved in assembling a bigger portfolio is probably the biggest problem with the stock
It may be mere coincidence, but Reinet’s announcement that it is taking steps to improve liquidity in its shares was met with a 2.7% rally in the stock on Tuesday, while the performance of its main asset — British American Tobacco — was a far more subdued 0.4%.WG Wearne, one of SA’s oldest construction groups, had its listing on the JSE suspended with immediate effect this week after failing to submit its annual financial statements within the six-month period stipulated by listings requirements. The group said on Tuesday in a stock exchange announcement that the annual financial statements were "not released timeously due to administrative issues". It did not elaborate. Starting out in 1910 as a small family business and listing on the AltX in 2006, it operates in some of SA’s major metropolitan areas. The group is still led by a family member, selling aggregates, ready-mix concrete and mobile crushing and screening services to much bigger JSE-listed construction companies. The mos...
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