Trading Day – Southern Palladium extends losses

Southern Palladium reported a headline loss per share of AUD 0.18 for the year ended June, down another 20% from the HLPS of AUD 0.15 last year.

In other news, Oceana Group has appointed Zafar Mahomed as their new CFO. Mahomed previously served as CFO of Cell C.

Mahomed has over 20 years of finance and business experience, having worked in several multinational and listed organisations across various industries.

Here is the biggest news of the day.

• Southern Palladium extends losses. The company reported a headline loss per share (HLPS) of AUD 0.18 for the year ended June, down another 20% from the HLPS of AUD 0.15 last year.

• Oceana Group has appointed Zafar Mahomed as their new CFO. Mahomed will commence work in November and officially take over the office from the current interim CFO,  Ralph Buddle, at the start of February to ensure a smooth transition.

• Barloworld expects a double-digit increase in revenue and operating profit. The company released a voluntary trading update for the 11 months ended in August. The group will release a trading statement once a reasonable degree of certainty exists concerning the group’s results for the full-year ended in September 2022, while its annual results are due to be released on 21 November.

• Coronation Asset Management has acquired an interest in WBHO such that their total stake in the company now amounts to 7.2%. It follows the Public Investment Corporation (PIC) reducing their stake in WBHO.

• MandG Investment Managers has increased its stake in RCL Foods to just over 5%.

• Nord Stream 1 and 2 pipelines were severely damaged under suspected sabotage. European countries have stepped up security at key energy facilities in response. The event destroyed hope that gas shipments could be resumed soon. A Nord Stream operator noted that “the destruction that happened… is unprecedented. It’s impossible now to estimate the timeframe for restoring operations of the gas shipment infrastructure.”