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REX TRUEFORM GROUP LTDREX TRUEFORM GROUP LTDREX TRUEFORM GROUP LTD

REX TRUEFORM GROUP LTD

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RTO trade ideas

Our opinion on the current state of REX-TRUE(RTO)Rex Trueform (RTO) is an extremely thinly traded company on the JSE, which makes it impractical for private investors in its current form. Established in 1937 and listed on the JSE since 1945, RTO manufactures and markets clothing and accessories through its Queenspark and J. Crew stores, operating across South Africa. The company also owns a portfolio of properties in the Cape Town area. RTO is controlled by a consortium led by Marcel Golding and Hugh Roberts. In its effort to diversify, the group recently invested R81 million to acquire a 33.8% stake in Sembcorp Siza, a water reticulation and specialist pipe services company operating in KwaZulu-Natal. The company maintains a strong balance sheet and has been exploring opportunities for further diversification. For the year ending 30th June 2024, RTO reported a 1% decline in revenue and a significant drop in headline earnings per share (HEPS), down 90.6%. The company's net asset value (NAV) also decreased by 1% to 1929c per share. Despite its strong financial position, the extremely low trading volumes of both its ordinary and "N" shares make it difficult for investors to take an interest in the stock. Given the lack of liquidity, RTO is not a practical option for most private investors at this time.
JSE:RTO
by PDSnetSA
Our opinion on the current state of RTOThis share represents an example of extremely thinly traded companies listed on the JSE, rendering them impractical for private investors in their current state. RTO, established in 1937 and listed on the JSE since 1945, specializes in manufacturing and marketing clothing and accessories through a nationwide chain of Queenspark and J. Crew stores. Additionally, it holds a portfolio of properties in the Cape Town area. The group is under the control of a consortium led by Marcel Golding and his partner Hugh Roberts. Recently, the group made a significant investment of R81 million to acquire a 33.8% stake in Sembcorp Siza, a company specializing in water reticulation and specialist pipe services operating in Natal. With a robust balance sheet, the company has been actively seeking diversification opportunities. In its financial results for the year ending 30th June 2023, RTO reported a remarkable 35.1% increase in revenue and a substantial 78.2% surge in headline earnings per share (HEPS). The company's net asset value (NAV) also saw a notable 41% rise to 1888c per share. RTO attributed the revenue growth primarily to an increase in turnover within the retail segment, while other revenue streams, including media and broadcasting income, rental income, tenant recoveries, and management fee income, experienced a significant uptick, mainly driven by the acquisition of Telemedia and property assets. Investment income also saw a healthy increase of 34.7%. However, a trading statement for the six months ending 31st December 2023 forecasted a substantial 62.2% decrease in HEPS. Unfortunately, neither its ordinary nor its "N" shares trade at levels sufficient to attract investor interest at this time.
JSE:RTO
by PDSnetSA
Our opinion on the current state of RTOThis share is extremely thinly traded companies listed on the JSE - which makes then completely impractical for private investors in their current form. RTO was established in 1937 and has been listed on the JSE since 1945. It manufactures and markets clothing and accessories through a nation-wide chain of Queenspark and J. Crew stores. It also owns a portfolio of properties in the Cape Town area. The group is controlled by a consortium led by Marcel Golding and his partner Hugh Roberts. The group recently invested R81m to buy a 33,8% stake in Sembcorp Siza - a water reticulation and specialist pipe services company which operates in Natal. The company has a very strong balance sheet and has been looking to diversify. In its results for the year to 30th June 2023 the company reported revenue up 35,1% and headline earnings per share (HEPS) up 78,2%. The company's net asset value (NAV) increased 41% to 1888c per share. The company said, "Group revenue increased by 35.1% to R899.3m (2022: R665.7m), mainly due to an increase in retail segment turnover. Other revenue, comprising of media and broadcasting income, rental income, tenant recoveries and management fee income, increased by 168.8% to R179.7m (2022: R66.8m), mainly due to the acquisition of Telemedia and property assets. Investment income increased by 34.7% to R33.4m (2022: R24.8m)". Unfortunately, at this time neither its ordinary nor its "N" shares trade sufficiently for investors to become interested.
JSE:RTO
by PDSnetSA
Our opinion on the current state of RTOThis share is extremely thinly traded companies listed on the JSE - which makes then completely impractical for private investors in their current form. RTO was established in 1937 and has been listed on the JSE since 1945. It manufactures and markets clothing and accessories through a nation-wide chain of Queenspark and J. Crew stores. It also owns a portfolio of properties in the Cape Town area. The group is controlled by a consortium led by Marcel Golding and his partner Hugh Roberts. The group recently invested R81m to buy a 33,8% stake in Sembcorp Siza - a water reticulation and specialist pipe services company which operates in Natal. The company has a very strong balance sheet and has been looking to diversify. In its results for the year to 30th June 2023 the company reported revenue up 35,1% and headline earnings per share (HEPS) up 78,2%. The company's net asset value (NAV) increased 41% to 1888c per share. The company said, "Group revenue increased by 35.1% to R899.3m (2022: R665.7m), mainly due to an increase in retail segment turnover. Other revenue, comprising of media and broadcasting income, rental income, tenant recoveries and management fee income, increased by 168.8% to R179.7m (2022: R66.8m), mainly due to the acquisition of Telemedia and property assets. Investment income increased by 34.7% to R33.4m (2022: R24.8m)". Unfortunately, at this time neither its ordinary nor its "N" shares trade sufficiently for investors to become interested.
JSE:RTO
by PDSnetSA