Avusa, Grindrod, Rebosis and TCS May Move: South African Equities Preview

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 175.82, or 0.5 percent, to 32,565.73 at the 5 p.m. close in Johannesburg.

African Brick Centre Ltd. (ABK) : The clay-brick maker said its loss fell to 11.9 million rand ($1.7 million) in the year ended February, from 15.3 million rand a year earlier, according to a regulatory filing yesterday. The shares were unchanged at 3 cents.

Avusa Ltd. (AVU) : The publisher of South Africa’s largest weekend broadsheet newspaper said it will allow Capitau Holdings Ltd. four weeks to make a firm offer once a due diligence is completed. Capitau has made an indicative offer to acquire Avusa for 2.7 billion rand ($396 million). Shares dropped 1.85 rand, or 7.5 percent, to 22.83 rand.

Chrometco Ltd. (CMO) : The chrome development company said it turned a profit of 5.1 million rand in the year ended February, from a loss of 5.3 million rand in 2010. The stock rose 3 cents, or 12 percent, to 29 cents.

Grindrod Ltd. (GND) : Africa’s biggest shipping company said earnings per share for the six months to June 30 are expected to decline by between 35 percent and 45 percent from a year earlier due to weak shipping earnings and a stronger rand compared to the dollar. Grindrod shares fell 4 cents, or 0.3 percent, to 14.30 rand.

Quantum Property Group Ltd. (QPG) : The real-estate developer said its loss narrowed to 12.7 million rand in the first-half through February compared with 26.7 million rand a year earlier, according to a regulatory statement filed yesterday. The stock was unchanged at 33 cents.

Rebosis Property Fund Ltd. (REB SJ): The property company said profit for the first half through February climbed to 24.2 million rand from 17.1 million rand a year earlier. The shares were unchanged at 9.75 rand.

Total Client Services Ltd. (TCS) : The technology and software provider said its loss increased 16 percent to 14.6 million rand in the year through February. The stock declined 1 cent, or 33 percent, to 2 cents.

Zaptronix Ltd. (ZPT) : The energy-management system company returned to profit in the six months through February, reporting net income of 826,000 rand compared with a loss of 1.8 million rand a year earlier. Zaptronix shares were unchanged at 3 cents.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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