JSE results downpour forecast for Thursday
Companies scheduled to release results include Anglo American, Sibanye-Stillwater, Woolworths, Truworths, Discovery, Adcock Ingram, and JSE Ltd
A deluge of results from JSE-listed companies are diarised for Thursday, including those from the owner of the bourse, JSE Ltd.
The list includes miners Anglo American and Sibanye-Stillwater, retailers Woolworths and Truworths, insurer Discovery, and pharmaceuticals maker Adcock Ingram.
Anglo American, the top 40 index’s fourth-largest constituent, has not issued a trading update as would be required if its earnings differed by more than 20% from the year before.
But its results have been preceded by its subsidiary Anglo American Platinum reporting on Monday and Kumba Iron Ore on Tuesday.
Sibanye-Stillwater said on Wednesday that it expected to report its headline loss per share narrowed to 1c from 12c.
Its basic loss per share halved to R1.10 from R2.29, Sibanye-Stillwater said in its amended trading statement.
Discovery warned shareholders on February 15 that it expected to report an 18% decline in interim headline earnings per share (HEPS) for the six months to end-December.
Woolworths warned shareholders in a trading update on January 17 that it expected to report an up to 5% decline in HEPS for the first half of its 2019 financial year.
Retailers conventionally report in weeks rather than months, and Woolworths’s interim period will cover the 26 weeks to December 23, placing it in an unflattering light since the comparative period included Christmas Eve.
Truworths will report for the 26 weeks to end December 30.
The fashion retailer said in a trading update on January 17 that it expected to report an about 6% decline in diluted HEPS.
After see-sawing alarmingly up to R14.37/$ and then down to R13.93/$ while finance minister Tito Mboweni delivered his budget speech in parliament on Wednesday, the rand was relatively stable again on Thursday morning.
The SA currency was trading at R14.01/$, R15.90/€ and R18.28/£ at 6.20am.