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Quick post. Pulled MTN's share price across all five exchanges it's listed on (Ghana, Nigeria, South Africa, Uganda, Rwanda), converted everything to cedis, and added P/E ratios so we can actually talk about whether these are cheap or expensive, not just raw numbers.
Prosus delivered the headline: 24% core HEPS, 40% dividend, 57% revenue — a clean beat on paper. But the operating line swung from a US$173m profit to a US$173m loss, and that's the kind of number-adjusted gymnastics that deserves a closer look before you buy the narrative.
SENS that landed today:
- PRX — Core HEPS up 24%, dividend up 40%, revenue up 57%. Clean headline delivery. But the operating line swung from a US$173m profit to a US$173m loss — a sharp reversal that adjusted metrics like aEBITDA obscure. (https://sens-ai.co.za/sens-intelligence/2792b9cd-11d8-44b8-b77a-06d08577ac81)
- BAC — ACOF ECL provision tightened from 3.76% to 2.60%, a genuine improvement in loan book credit quality. Aquis admission remains at the adviser-appointment stage — it's an ambition, not an event. (https://sens-ai.co.za/sens-intelligence/6a8cbc5b-f64d-4543-81f2-486a0130ef9f)
- IVT — Audited results confirm HEPS up 1%, sustainable HEPS up 7%, dividend up 9%. The 36% profit decline is explained by a non-recurring R225m Singapore property disposal in the prior base — not underlying deterioration. The 5.7% run-up into the print leaves little fresh surprise in the numbers themselves. (https://sens-ai.co.za/sens-intelligence/ce86f16c-60c1-4859-9950-b25aa0503c0f)
- FFB — Fortress raises ~4.3% in new B equity to fund a ZAR5.2bn development pipeline, shifting toward growth rather than forced disposals. The filing omits the equity vs debt split, target post-raise LTV, and any year-by-year capex schedule — the raise is calibrated to a black box. (https://sens-ai.co.za/sens-intelligence/124fadaa-2d10-4741-905e-1fa4e7ca59cd)
Biggest movers today:
Gainers:
- ACT +13.9%
- HET +13.0%
- FGL +8.9%
Losers:
- MTU -24.0%
- OAO -20.8%
- EMH -14.7%
Macro snapshot as of 17:30 SAST:
- ALSI at 110,271.44 (+0.0%)
- Gold at 4018.96 (-1.7%)
- Brent at 73.06 (+1.5%)
- Rand/USD at 16.44 (+0.2%)
Are you playing the Prosus and Naspers adjusted metrics or bailing on the operating line swing — what's the actual thesis here?