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  • Finweek - English

    Simon’s stock tips

    Aug 07, 2020 5 minutes
    By Simon Brown

    SPUR CORPORATION

    Bite to the earnings

    Spur Corporation’s trading update for the year through 30 June, which was released at the end of July, gives details of the impact of the hard government-imposed lockdown. Spur’s system-wide sales were 5.8% higher for the period to the end of February but for the full 12 months through June this plummeted by 21.7% as sales during the lockdown months were almost 90% down before “improving” to a decline of 79% in June. July and the following months will see more improvements as lockdown regulations are being relaxed, but earnings will remain hard hit.

    STEINHOFF

    Calming the litigants

    Steinhoff is looking to settle the many legal claims (amounting to about R136bn) it is facing with a proposed R16.5bn deal. The deal, announced on 27 July, would see impacted investors and

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