Ghost Wrap #27 (Nedbank | Spar | Hudaco | Pepkor | Sirius Real Estate | Tiger Brands)

Welcome to Ghost Wrap. It's fast. It's fun. It's informative.

In this week's episode of Ghost Wrap, we cover:

• Nedbank's operational update, reflecting strong growth in headline earnings and a warning about further interest rate increases, along with the news of Mike Brown stepping down as CEO.
• An awful week for Spar shareholders, with the stock now trading at levels last seen in 2011.
• Hudaco's acquisition of the Brigit group of fire protection companies, featuring a surprisingly high valuation multiple.
• Tough results at Pepkor and more resilience in the share price than I expected.
• Sirius Real Estate refinancing debt and showing an increase in the cost of debt that will be a feature of offshore property funds going forward.
• A nasty sell-off in Tiger Brands despite a modest increase in HEPS under difficult circumstances.

The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.