BARLOWORLD LIMITED – Voluntary trading update, and more

 BARLOWORLD LIMITED – Voluntary trading update, and more

BARLOWORLD LIMITED – Voluntary trading update, and more.

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South African stocks rose in tandem with global equities after positive signals came from Turkey and Russia and Ukraine made some progress in peace talks. The Johannesburg All-Share Index rose 0.78% to 74,776 points, while the Top 40 Index gained 0.7% to 67,911 points. Among individual stocks, Barloworld led the All-Share Index after gaining 9.24% during the day. RFG Holdings, on the other hand, lost 8.66% and was the worst performer of the day.

The rand trended firmer on Tuesday as peace talks between Russia and Ukraine appeared to be making progress. At the close of trading, the rand was trading around R14.53 against the dollar, 1.02% firmer. Meanwhile, the battered yen rallied this morning as traders began to doubt whether Japanese authorities would tolerate further weakness, while hopes for a breakthrough in peace talks between Russia and Ukraine helped the euro and weighed on the dollar.

Gold prices rose this morning, supported by a decline in the U.S. dollar and government bond yields, although signs of progress in peace talks between Russia and Ukraine hurt the metal’s safe-haven appeal and kept gains in check. Oil prices rose early today, recouping losses from the previous session on hopes of progress in peace talks between Russia and Ukraine and a sharp drop in U.S. crude inventories last week.

BARLOWORLD LIMITED – Voluntary trading update

Sales for the five-month period ending February 28, 2022 (the “Period”) increased 2.3%, primarily due to exceptional growth in machinery and parts sales in Greater Africa. This offset low activity in South Africa, which was impacted by delayed shipments. Botswana successfully handled key machinery deliveries and, together with Mozambique, Zambia and Angola, recorded exceptional growth over the comparative period. The firm order book increased by 43% to R4.6 billion (September 2021: R3.2 billion) due to strong demand in the mining sector and improved activity in the second half of FY2021, mainly in South Africa. Operating costs were well controlled, resulting in a 4.8% increase in operating profit over the comparative period.

NAMPAK LIMITED – Voluntary trading update

Trading conditions in the five months to 28 February 2022 (“the period”) were robust, with strong demand for most of our products. Strong volume growth in beverage cans in our key markets, combined with higher pricing, resulted in consolidated sales growth of more than 20% compared to the five months ended February 28, 2021 (the “Prior Comparative Period”). Despite higher input costs due to significant increases in global raw material prices, trading profit, operating profit and EBITDA for covenants increased with strong growth compared to the Prior Comparative Period.

Mandy Nunes

https://gvmarkets.com/

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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