Crisis sell-off: Market is sending WeBuyCars owner Transaction Capital a message | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

One-time investor darling Transaction Capital has suffered another shock slump amid increasing concern about its massive debt burden and strategic misjudgements. | News24_Business

Transaction Capital says the minibus taxi industry is not recovering as initially anticipated and has thus booked R1.9bn in provisions for potential bad debt in SA Taxi.One-time investor darling Transaction Capital has suffered another shock slump amid increasing concern about its massive debt burden and strategic misjudgements.

The company lost more than a third of its value on the JSE on Wednesday. In mid-March, the company crashed 40% in a single day after warning the market that a sharp fall was coming in its earnings for the six months to end March.Read this for free Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WeBuyCars owner Transaction Capital plunges 17% after R1.9bn loss | BusinessShares of SA's biggest taxi financier and Transaction Capital plunged another 17% on Wednesday, after it delivered a profit fall that was worse than guided. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Transaction Capital’s profit disappears as restructuring of taxi business beginsThe taxi financier and second-hand car dealer hopes its SA Taxi unit will be profitable again in 2024
Source: BDliveSA - 🏆 12. / 63 Read more »

Transaction Capital takes 48% profit hit after downsizing taxi businessTransaction Capital opted to skip dividends after booking a R2.1 billion headline loss in its SA Taxi business for the six months to 31 March 2023. Moneyweb BusinessNews
Source: Moneyweb - 🏆 5. / 77 Read more »

MARKET WRAP: JSE falters amid global market unease and debt ceiling worriesSA markets take a hit as the US debt ceiling stalemate sparks investor caution, with the rand plunging to a two-month low against the dollar
Source: BDliveSA - 🏆 12. / 63 Read more »