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.