JSE likely to follow Asian markets lower on Tuesday
Shoprite and construction group WBHO are expected to report gloomy results, while Assore is likely to benefit from the rally in iron ore prices
The busy week for JSE-listed companies continues on Tuesday, with retailers Shoprite and Cashbuild, miner Assore and construction group Wilson Bayly Holmes-Ovcon (WBHO) scheduled to release results. Shoprite warned shareholders on January 29 that it expected to report on Tuesday that interim headline earnings per share (HEPS) for the 26 weeks to December 30 declined by about 30%. Its Angolan outlets suffered from an 85% crash in the local currency. Excluding Angolan hyperinflation, the decline in HEPS was about 20%, Shoprite said. In SA, Shoprite said it suffered from supply disruptions caused by teething problems with a new enterprise resource planning system and strikes. Shoprite said 10,719 of the items it sells got cheaper over the year, indicating growth of its top line will not be impressive. WBHO warned shareholders on February 12 that it expected HEPS for the first half of its 2019 financial year to be only about a tenth of the matching period. Reasons for the plunge in prof...
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