Latest news with #FUL
IOL News
27-05-2025
- Business
- IOL News
Constitutional Court to decide on CPS's profits from unlawful social grants contract
The lucrative R10 billion social grants tender is still subject to litigation between the government, non-governmental organisations, and the company contracted to pay social grants. Image: File The long-running legal battle over the payment of social grants by Cash Paymaster Services (CPS) is set to be settled by the Constitutional Court over the company's profits from the lucrative deal. Lobby group Freedom Under Law (FUL) has approached the apex court in a bid to force CPS to produce documents proving the company earned from the unlawful social grants contract. The organisation wants CPS's profit from the contract to be calculated properly and repaid to the SA Social Security Agency (Sassa) with documents showing how much the profits were. On Tuesday, the Concourt heard that CPS only declared R252 million and that the profit could be understated by as much as R800 million, according to papers filed by the parties. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'We now know, as the court did not know when it ordered the profit accounting, that CPS has significantly benefited from the unlawful social grants contract. Its independent audits filed with this court show the profits were R252m. 'That is the floor of its unlawful benefit. RAiN investigations and reports, while inconclusive, suggest that the amount may be over R1 billion,' FUL argued. RAiN is the company of chartered accountants asked to investigate the profits received by CPS after the Concourt ruled that its contract was unlawful but allowed it to continue paying social grants. The court heard that the Lesaka Group, previously CPS' parent company Net1, advised the market that its loss of the Sassa social grants contract had led to a reduction of its profit by approximately R5bn. 'The no-profit, no-loss equilibrium allowed the court to permit an unlawful contract to continue for five years, and then even ordered it extended (beyond its original tendered and contracted term) for a further year and a half to protect the many millions of beneficiaries whose constitutional rights would be violated if the payment of social grants (however unlawful the means) ceased,' the court heard. CPS is currently under liquidation, and its liquidators insist that they have handed all the documents in their possession to the auditors looking for the money paid to the company for its contract. 'We respectfully submit that this court should order a just and equitable remedy to ensure the determination of CPS's profits in line with the proposals and considerations,' the company told the Constitutional Court. FUL continued: 'When the court held that the no-profit principle, which means not allowing profit from unlawfulness, and prevented the perpetuation of unlawfulness, it was clear that any such profits were received not as a private party but as an organ of state discharging constitutional obligations to ensure that beneficiaries' rights were not violated by any disruption in the payment of social grants.'
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Business Standard
25-05-2025
- Sport
- Business Standard
Premier League top 5 race LIVE SCORE UPDATES: Who will book their spots for Europe next year?
Premier League final day 2025 LIVE UPDATES: Check all the live updates for the Premier League race for European spots here. 8:15 PM Premier League final day 2025 LIVE UPDATES: FUL vs MCI playing 11s 8:07 PM Premier League final day 2025 LIVE UPDATES: Main focus on City ground! The tie between Nottingham and Chelsea will be looked at the most with the tie having the most impact on the top 5 race tonight. Chelsea are on 5th place with 66 points with Nottingham on 65 points sitting on 7th position. A win for either of the sides could see them booking on eof the UCL spots tonight. 7:38 PM Premier League final day 2025 LIVE UPDATES: NOT vs CHE playing 11 out! 7:35 PM Premier League final day 2025 LIVE UPDATES: Top 5 race very much alive! The race for the Champions League spots are still on with Man City, Newcastle, Chelsea and Nottingham Forest still in contention for it. Line-ups for the matches to follow..
Yahoo
14-05-2025
- Business
- Yahoo
Are Investors Undervaluing H. B. Fuller (FUL) Right Now?
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels. Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now. One company to watch right now is H. B. Fuller (FUL). FUL is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock has a Forward P/E ratio of 12.56. This compares to its industry's average Forward P/E of 22.85. Over the past year, FUL's Forward P/E has been as high as 18.44 and as low as 11.31, with a median of 16.08. We also note that FUL holds a PEG ratio of 0.79. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FUL's industry has an average PEG of 2.26 right now. Over the past 52 weeks, FUL's PEG has been as high as 1.54 and as low as 0.71, with a median of 1.16. We should also highlight that FUL has a P/B ratio of 1.66. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 3.10. Over the past 12 months, FUL's P/B has been as high as 2.62 and as low as 1.48, with a median of 2.26. Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. FUL has a P/S ratio of 0.87. This compares to its industry's average P/S of 1.48. Finally, we should also recognize that FUL has a P/CF ratio of 10.67. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. FUL's P/CF compares to its industry's average P/CF of 13.60. Over the past year, FUL's P/CF has been as high as 14.69 and as low as 9.48, with a median of 12.63. Value investors will likely look at more than just these metrics, but the above data helps show that H. B. Fuller is likely undervalued currently. And when considering the strength of its earnings outlook, FUL sticks out at as one of the market's strongest value stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report H. B. Fuller Company (FUL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
