Ghost Bites:Bytes has guided operating profit growth in the high teensSasfin's return on equity is lower than the SA 10-year bond yieldYork's results were ruined by Mother Nature followed by Mother NUMSAFor these stories and many more, read today's edition of Ghost Bites>>> City Lodge checks inIn FY19, City Lod ge's average occupancy was 55%. In FY22 (the twelve months ended June), it was just 38%. Here's the good news though (unless you're a Zoom shareholder): occupancy in July to September 2022 has been between 52% and 56%. This is in line with pre-Covid levels and is the likeliest reason that City Lodge caught the market's attention yesterday. Well, some of the market at least. The share price actually closed 2% lower, which doesn't make much sense to me. With some vocal supporters on Twitter, I think this one looks pretty interesting. As we head into our summer season, City Lodge's increased relevance with leisure travellers can only be a good thing. With Covid behind us and absolutely no political goodwill left for further lockdowns and restrictions, it's hard to see how we won't have a big December in South Africa. For the sake of the tourism sector and our broader economy, I certainly hope that people will get back on the jol this summer. Get ready to hear more American accents around the V&A Waterfront, as the dollar strength makes us a ridiculously cheap destination. The Fed hikes by 75bpsAs TreasuryONE and much of the market expected, the Fed hiked by 75 basis points. The FOMC forecasts show rates topping at 4.625% in 2023, which is higher than previously expected. The rand traded just above R17.70 immediately after the announcement and the euro fell to two-decade lows against the dollar. The press conference from Fed Chair Jerome Powell will need to be digested by the market. Learn how to build a more valuable businessIn the second bizval webinar, we covered critical topics around building a more valuable business. This is a project that I'm incredibly proud of. To learn from your favourite ghost and my fellow co-founders (including Howard Blake who has founded more startups than anyone can count), watch the webinar at this link>> Keen on crypto? This one's for you!Jaltech will be hosting a series of cryptocurrency educational webinars this year, presented by Andoni Nicolau, one of Jaltech's cryptocurrency experts. The first webinar will focus on several aspects of cryptocurrencies, including: Why the cryptocurrency market has seen such a large sell-offThe introduction of regulations by the FSCA next yearThe rapid adoption of cryptocurrenciesIf you want to learn about cryptocurrencies, this is clearly the place to do it. To register at no cost, you need to follow this link>>>
Have a great Thursday!
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