We’re back into earnings season on the JSE, with June mid-year and year-end results starting to be published. As such, we’re seeing the real impact of the hard government-imposed lockdown, which started in late March, on companies.
This gives investors a first true indication of how businesses performed during the lockdown, and perhaps a glimpse into how they’ll recover.
But first, there are two important points. Year-end results will only have one-quarter of lockdown included, while mid-year will cover a period that stretched over half the lockdown time. It is also very important that while we’re now in level-2 lockdown as a country, things remain risky and we could move back into stricter lockdowns – as we’ve seen happen in many other countries the world over who came out of hard lockdown ahead of South Africa.
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10 September 2020