What is it with this share - everyone rates it but all it does is drop in price. Is it time to get rid of this rubbish? Brought at the book build of R88 and just have watched Christo Wiese and co destroy the share.
quality balance sheet, 40% increase in revenues, mostly offshore and you are buying into the kings of African deal making (Christo Wiese and Marius Jooste). You are getting a top end retailer for a PE of 15, which is pretty low for the retail space. Taking a bit of a beating right now because of the lack of clarity around the Shoprite deal, but once Shoprite is added to the portfolio, you will see the market cap increase massively again. Trading this, sure, it isn't time for a long, but as an investor, I think Steinhof is a no brainer