Instead of putting money down on 7, 11, 13, 27, 31 and red I decided to rather place my chips on Woolworths as I felt calculating their ability against that of wind and dealer strength would result in a more calculated investment. So, a few months ago I rolled the dice and invested in Woolworths. Unfortunately, my lack of experience didn’t have me thinking that the JSE was performing incredibly strongly and that I would be investing at a high point in general, a great shame because the price has only tanked since then. In fact, my investment is down 26.29% compared to my shares in BHP which are up 25.12%, it’s quite a sad state of affairs. Sure, these are blue chippers and should be seen as long term investments, but it’s still sobering.
Woolworths have just announced their interim results for the half year mark, which ended on December 29, 2013. There are a lot of numbers, but here’s a summary thanks to various resources:
Some more insight:
And then of course there’s the Country Road Group of which 88% is owned by Woolworths:
What’s interesting here is that these results are pretty darn good, I wouldn’t mind those figures on my side but what I don’t quite understand is why the share price remains so dismal. Unfortunately, due to this we’ve seen the share price drop a further 4.25% today to close at R58.75 which is almost the lowest it’s traded at in the past year.
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