All Ticker Talk reviews. 14 total across 3 editions. 12 unique companies rated.
BULLISHNedbank GroupNEDReview #2
← Previous: NEUTRAL on 31 Jul
Interim Results H1 2026
Solid H1. Revenue growth, improving ROE. NCBA Kenya providing a clear Africa growth path.
The interim results confirm the leadership change is orderly and the core business is performing. Nedbank's Africa strategy is taking shape. Standard Bank still leads, but Nedbank is no longer sitting on the sidelines. BULLISH.
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BULLISHJSE LimitedJSEReview #1
Interim Results H1 2026
The JSE is a toll-road business. H1 strong trading volumes and increased listings. A near-monopoly that prints cash.
The JSE benefits from volatility — more trading means more revenue. Diversifying into data services. Few businesses on the JSE are as reliably profitable as the JSE itself. BULLISH.
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BULLISHOando PlcOAOReview #1
H1 2026 Results
Nigerian oil and gas play delivering. Revenue growth and improved production metrics.
Pure play on Nigerian energy — currency, regulatory, political risk. But H1 shows operational improvement. BULLISH for frontier-market investors.
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NEUTRALRedefine PropertiesRDFReview #1
Board Changes
Board refresh at Redefine — positive for a company in restructuring, but interest rates remain the dominant factor.
Redefine has been rationalising its portfolio for years. Board changes suggest a new phase. NEUTRAL. Watch who they appoint.
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NEUTRALHosken Consolidated Inv.HCIReview #1
Transaction — Disposal and Acquisition
HCI moving assets around. The question is whether the reshuffling creates or destroys value.
HCI is a complex holding company — media, gaming, transport, energy. Corporate activity is normal. NEUTRAL. Wait for dust to settle.
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BULLISHTelkomTKGReview #1
Q1 Trading Update
Data-led strategy working. Mobile subs +6%, data subs +15.5%, fibre +8%. Not the Telkom of five years ago.
Telkom transforming from dying fixed-line into credible mobile and fibre player. Years of network investment paying off. Execution risk remains but numbers are talking. BULLISH.
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NEUTRALMetair InvestmentsMTAReview #1
Trading Update H1 2026
Revenue up mid-single digits, EBIT margin barely moving. Green shoots but want proof margins can sustain.
Metair has been unlucky for years. Latest update shows improvement — restructuring taking hold. But NUMSA strike at First Battery isn't in the numbers yet. NEUTRAL.
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BULLISHLesaka TechnologiesLSKReview #1
Executive Chairman Option Award Approved
Shareholders approved the option award. Aligning management incentives with shareholders is positive for a fintech turnaround.
Lesaka repositioning as SA fintech play. Option award signals management confidence. BULLISH for the alignment, but execution is everything.
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BULLISHHulaminHLMReview #2
← Previous: BULLISH on 31 Jul (Trading Statement)
Interim Results H1 2026
Revenue +2% to R7.2bn, EBITDA surged 103% to R470m. HEPS 79cps. Stock jumped 25%. Turnaround is real.
Hulamin delivered exactly what the trading statement promised — and then some. EBITDA doubling is operating leverage at work. Disposals complete, proceeds improving H2 balance sheet. BULLISH.
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BULLISHStor-Age Property REITSSSReview #1
Acquisition of Xtraspace Portfolio
Stor-Age buying Xtraspace — consolidating dominant SA self-storage position. A niche REIT widening the moat.
Self-storage has genuine structural growth. UK is a drag, SA business is the cash engine. BULLISH.
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BULLISHPrimeserv GroupPMVReview #1
Dividend 21.5c (up 72%)
Primeserv dividend up 72% to 21.5c — a small-cap throwing off cash. The business is quietly healthy.
Primeserv flies under the radar — R200m market cap, thin liquidity, no analyst coverage. But when a company nearly doubles its payout, pay attention. BULLISH. A snack, not a meal.
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NEUTRALNedbank GroupNEDReview #1
Mfundo Nkuhlu Retirement
Nkuhlu retiring from Nedbank CIB. Orderly exit — succession planning in a R200bn+ institution shouldn't be a crisis.
CIB contributes roughly a quarter of earnings. This is a retirement, not a resignation. NEUTRAL. Watch CIB over the next two quarters.
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BULLISHHulaminHLMReview #1
Trading Statement H1 2026
Strong H1 with improved volumes and margins. Turnaround is real — balance sheet cleaner, operations improving.
Hulamin quietly fixing itself. Trading statement points to meaningful improvement. Market has been sleeping on this one. BULLISH. Buy the quiet achievers.
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BEARISHAccelerate Property FundAPFReview #1
Updated Trading Statement
Deeply troubled property fund. Fourways Mall remains an albatross. Getting your numbers right shouldn't be this hard.
Accelerate is the poster child for everything wrong in SA commercial property. Correction to trading statement erodes credibility. BEARISH. Better ways to play SA property.
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