On Monday I spoke with Bonang Mohale about the R25 million loan his family’s Serialong Trust advanced to Purple Group* in August 2018. Back then Purple was struggling and the loan was to run for three years with the option to convert it into shares in August 2021 when it expired. Mohale did exactly that, and the R25 million loan is now worth some R190 million – an awesome return in just three years but one that was not without risk.
Most investors shy away from MultiChoice as they consider its local satellite television offering to be outdated and overpriced. Add to that the Nigerian tax claim and there are plenty of concerns. But Chantal Marx of FNB suggests the Nigerian concerns are overstated and that the company still has a great future in the rest of the continent, and regarding the local market, in its streaming offerings and great local content. She adds that while many of us complain about DStv, many still subscribe for the sport – a captive market.
Motor retail group Motus reported great annual results and I spoke with the CEO, Osman Arbee. Arbee is always a great guest as he drops pearls of insight, this time around pricing for used vehicles, the increased sale of used vehicles compared with new vehicles and when he expects car rentals to return to pre-Covid levels.
Murray & Roberts’ annual results disappointed the market as the stock slide below 1 000c on the day. But I spoke with CEO Henry Laas and the continuing operations are performing well; he said this set of results should see the last of the costs associated with the loss-making operations it is looking to exit. No longer a construction stock in the traditional sense, it is benefiting from increased activity in mining and is looking to expand in North America.
Also this week:
Sea Harvest’s interim revenue was up despite catch decline. CEO Felix Ratheb says Covid-19 and the fact that there’s a huge demand in retail meant its prices increased nicely everywhere.
The writer holds shares in Purple Group and Murray & Roberts