South Africa Stock Preview: Cargo Carriers, 1time
(Corrects month of fiscal year’s end in 1time item in story originally published on May 20.)
The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.
The FTSE/JSE Africa All Share Index rose 75.02, or 0.2 percent, to 31,918.93 at the 5 p.m. close in Johannesburg.
Africa Cellular Towers Ltd. (ATR) : The steel communication-tower maker reports results for the year through February. The company’s loss is expected to widen to between 35.5 cents and 39.3 cents a share compared with a loss of 25.9 cents last year, it said in a statement on May 13. The stock retreated 1 cent, or 6.7 percent, to 14 cents.
Cargo Carriers Ltd. (CRG) : The transportation and logistics company publishes earnings for the year through February. Earnings per share are expected to be as much as 35 percent lower for the period compared with a year earlier, it said in a trading update on May 13. The shares were unchanged at 10.20 rand.
1time Holdings Ltd. (1TM) (1TM SJ): Graham Paterson, the low-cost airline and technical maintenance company’s Africa and airports director, sold 25,000 of his shares in 1time yesterday. The company reported a 97 percent drop in profit to 1.16 million rand ($168,000) in the year through December. Since then, Paterson, Chief Executive Officer Glenn Orsmond and three other senior executives have sold more than 254,000 shares at about 60 cents. 1time rose 2 cents, to 59 cents.
To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at firstname.lastname@example.org
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