Don’t miss the turnaroud


CEO OF THIS steel prod­ucts sup­plier, Treve Hendry, was on a buy­ing spree be­tween 13 and 19 March, snatch­ing up a to­tal 21 000 units worth R76 368 at share prices of be­tween 590 cents and 600 cents. The stock is still cur­rently trad­ing within that range, at a p:e of 7. Fol­low­ing a dif­fi­cult last year for this counter due to strikes both in the min­ing and trans­port sec­tors – where Ar­gent sup­plies most of its steel man­u­fac­tured prod­ucts – pun­dits ex­pect this small cap to land back on profit space this year.

The out­look for the steel mar­ket, which was hugely de­pressed in 2012, is also quite pos­i­tive AC­CEN­TU­ATE LIM­ITED as min­ing and con­struc­tion pick up and Government in­fra­struc­ture spend gath­ers mo­men­tum. Ar­gent’s per­for­mance peaked in 2008, post­ing earn­ings of 231c/share but only posted 75c/share in full-year per­for­mance last year. It is though an im­prove­ment from the 54c/share in 2011 and a mis­er­able 14c/share in 2010.

The Ar­gent brand port­fo­lio in­cludes Jet­mas­ter, Xpanda Se­cu­rity, Ex­cal­ibur Ve­hi­cle Ac­ces­sories and Phoenix Steel, to name a few, which trade through­out South Africa, the UK and North Amer­ica.

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