#232: Reviewing recent results and my portfolio

Reviewing results Simon Shares Feedback on making sense of SENS AVI (JSE code: AVI) results show good numbers in a tough market. People tend to look to Pioneer (JSE code: PFG) or TigerBrands (JSE code: TBS) but this is the real gem in the space with a dividend yield of 4%. Holdsport (JSE code: HSP) trading update shows increased comparable sales growth, but after inflation they're going backwards. I never been a fan of this business albeit the share is up some 100% in the last five years, around 15% a year which is nice, but average? But then add a chunky dividend that currently yields 5%, can they hold the dividend or even increase it? I suspect they can but I still not interested. Clover (JSE code: CLR) were good considering the tough times with drought yet they had an over supply of milk? I used to own this stock but they weren't growing and expanding as I had expected so I exited. Sasol (JSE code: SOL) results came in as expected albeit with help from translations gains (FX moving in their favour) and a tax issue in Nigeria together adding almost R2.7billion. Point is they make a profit even at the low point of the cycle, that's impressive. Lake Charles remains their massive deal. I continue to hold Sasol and below R400 it is cheap but I am not buying more until Lake Charles is completed and we see if starting to make money rather than cost money. Richemont (JSE code: CFR) update is ugly, sales down across the board with operating profit for the six months ending September expected to be down 45%! Some of this is restructuring but sales are weak. I hold the stock and continue to hold but it not fun right now. Adding to this is the SENS on the AGM voting, no real disclosure just "all other matters on the agenda were also approved by the shareholders by an overwhelming majority.". Not good enough. Burger King, owned by Grand Parade (JSE code: GPL) saw average monthly sales per store decline 20% to R800k / month. That is a massive drop. They also have the brand rights to Dunkin' Donuts and Baskin-Robbins, neither of which excites me. The leader in this space remains Famous brands and that's the one I own. Last week Wealth Creation 101 video is online. Go watch it. Next Tuesday, 20th, we have our third Trading Master Class with IG focusing on reversal patterns. JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.