Our opinion on the current state of VUN

Vunani (VUN) is a black-owned financial services group with interests in asset management, investment, banking, property and stockbroking. It also has an interest in coal mining which has been performing well with the rise in coal prices. In its results for the six months to 31st August 2023 the company reported revenue up 4% and headline earnings per share (HEPS) of 18,2c compared with 20,4c in the previous period. The company said, "The group generated total comprehensive income for the period of R35.9 million (2022: R39.3 million), while total profit attributable to equity holders of the company amounted to R28.9 million (2022: R32.3 million)". From a private investor's perspective, the biggest problem with this share is that it is simply too thinly traded to be a practical investment.