Ghost Wrap #39 (Grindrod | Impala Platinum | Merafe | Resilient | NEPI Rockcastle | Santam | Sun International)

Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market.

In this episode of Ghost Wrap, we recap a busy couple of days:

• It's hard to find companies doing well in this environment, but Grindrod is one of them - if only the share price would notice!
• As expected, there's a further trading statement from Impala Platinum about just how bad things are.
• Merafe is doing very well, bucking the trend in the mining industry and continuing to trade at a dirt cheap multiple.
• In property, the trajectory locally and in Western Europe (represented by Resilient) is completely different to Central and Eastern Europe (NEPI Rockcastle)
• Base effects are important, as evidenced by looking at Santam and Sun International's latest numbers and comparing their through-the-cycle returns.

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.