Stock Focus: Harmony (HAR)

Harmony is a gold-mining and exploration company, with more than six decades of experience. Harmony has operations in South Africa and in Papua New Guinea, one of the world’s most well-known gold mining regions and one of the world’s premier new gold regions respectively. In 2014, Harmony produced 1.17Moz of gold and was the third largest producer of gold in South Africa and the eleventh largest in the world.

Continue reading Stock Focus: Harmony (HAR)

Nouriel Roubini: Why the gold price will not rise…

Gold can go up for only two reasons, [one is] inflation, and we are in a world where there are massive amounts of deflation because of a glut of capacity… There’s no inflation, and there’s not going to be for the time being. The only other case in which gold can go higher with deflation is if you have Armageddon, if you have another depression. But we’ve avoided that tail risk as well.

Stock Focus: Spur (SUR)

Spur Corporation is a growing multi-brand restaurant franchisor, head-quartered in Cape Town, and listed in the travel and leisure sector of the JSE Ltd. Spur Group consists of Spur International, Spur Steak Ranches, Panarottis Pizza Pasta, John Dory’s Fish, Grill & Sushi, Captain DoRegos and The Hussar Grill.

It currently has 490 outlets worldwide, with restaurants in various parts of Africa, Mauritius, the UK and Australia. These can be broken down into 318 Spur Steak Ranches, 79 Panarottis Pizza Pasta outlets, 33 John Dory’s restaurants, 63 Captain DoRegos outlets and 8 franchises of The Hussar Grill.

The group has demonstrated consistently strong organic revenue and operating profit growth, efficient capital management and a stable, generous dividend policy.

Although the company has a broad base of shareholders, in excess of 70% of shares are held by institutional shareholders.

Continue reading Stock Focus: Spur (SUR)

Stock Focus: Accelerate (APF)

Accelerate is  a newly listed property fund offering investors the opportunity to own a portfolio of 51 well-established, high-quality properties across South Africa, including ownership of two prominent regional shopping centres. Exciting growth prospects include the right to own 50% in  a super-regional centre upon its completion.

20150208APFKeyDataHistory

The Georgiou Group was founded by Nicolas Georgiou forty six years ago and has expanded into a successful national property company.

The Georgiou family’s long standing relationships with three of the largest five banks in South Africa has led to the creation of a premier

portfolio of properties having a national footprint including various iconic properties in prominent Nodes such as the Fourways/Sandton Node, the Charles Crescent/Sandton Node, the Parrow/Bellville Node, and the Cape Town Foreshore Node, amongst others.

In late 2012, a strategic decision was taken by Michael Georgiou to diversify the Georgiou family’s sources of funding and take advantage of the favourable legal and tax framework provided to qualifying property entities in terms of the REIT legislation amidst continued interest from institutional and retail investors to participate in the income and growth of the Georgiou family’s unique property portfolio and experience by bringing some of the underlying properties to market through a listing on December 12th 2013.Timeline

Prospects: Where is the growth potential?

Accelerate has a three-pronged strategy:

1. The Fourways development

The Fourways area has been earmarked as the next CBD by the local council. At this time, the pride of the Accelerate Property Fund assets lies in the heart of Fourways – Gauteng’s development node of the future.

Continue reading Stock Focus: Accelerate (APF)

Stock Focus: Emira (EMI)

Emira has been listed in the Real Estate Investment Trusts sector on the JSE Limited since 28 November 2003. Its property portfolio is spread across the office, retail and industrial sectors in line with the 20150208EMIKeyDataFund’s strategic objectives.

As at 30 June 2014, the Fund had a total of 141 properties with a total asset value of R10,7 billion, a market capitalisation of R7,1 billion and participatory interests (“PI”) closed at 1 470 cents.

The Fund is managed by Strategic Real Estate Managers Proprietary Limited (“STREM”), which is approved by the Registrar of Collective Investment Schemes, to manage the Fund. We have a strong team with offices in Bryanston, Cape Town and Umhlanga.

Continue reading Stock Focus: Emira (EMI)