At half-year 2025 or month six my @smalltalkdaily Top Stocks of 2025 still shows a mixed bag compared to the scenario when they were finalised in late-December 2024 From its worst -9.99% in April, its continued to improve to -3.67% in May and now -2.19% in June but still lags the benchmark indices I track Year-to-date the JSE Small Cap Index is 1.48% and Mid Cap 7.88% (but) all the action remains in the heavyweight also which is YTD 15.97% since point of selection In the month of June, The Small Cap 1.4% The Mid Cap 1.9% ALSI 2.2% Of the selection, Best performers $JSEPPC PPC Group 10.5% $JSENPK Nampak 7.8% $JSECSH Cashbuild 6.9% $JSEKAL KAL Group 5.8% $JSERBO Rainbow Chickens 4.0% Worst performers, $JSEHCI Hosken Consolidated Investments -8.8% $JSECMH Combined Motor Holdings -7.8% $JSERFH Rhodes Foods Group -6.8% $JSEGND Grindrod -5.9% $JSEADH ADvTech -1.7% Still another six months to go so, I await to see where the performance ends. June was a wild ride

Purchased in 1999, $JSEBS Tiger Brands now sells its 24.68% stake in South American foods business Carozzi for US$240m or R4,44 billion The buyer is the majority Carozzi company who has extensive foods interests in Chile, Argentina and Peru With a fat war chest, I wonder what CEO Tjaard Kruger will do with the money? The liability from the Listeriosis scandal won't be cheap but #TBS presumable has insurance With R4,44 billion, that would snaffle up $JSELBR Libstar (Mcap R2.8bn) or $JSERFH Rhodes Foods (Mcap R5,2bn) as an outside punt. I've commented on both of these stocks as M&A targets in woks for the past months

Also in the September issue of @FinancialMail Investors Monthly I wrote a review of the J357 Food Producers Index and the stocks as composed My recommendation was Core Holdings $JSEAVI AVI Group $JSEPMR Premier Group Second-tier Mid Cap $JSERFH Rhodes Foods Group Spec buys on earnings recovery $JSERBO Rainbow Chickens $JSESHG Sea Harvest

It's mid-cap food updates for @smalltalkdaily the next two days with CEO meetings, result, site visit with $JSERFH Rhodes Foods Group & $JSELBR Libstar #RFG has a Mcap of R3,390m & #LBR R2,380m so will be interesting to see how both stocks are currently faring in the challenging consumer & retail environment

We are moving into 2024 and #Covid is OVER yet some @JSE_SENS companies continues to assert the function that an electronic only Annual General Meeting remains totally acceptable; it does NOT ! I note that $JSEQFH Quantum Foods Holdings (I may forgive this as they have near zero free float) & $JSERFH Rhodes Food Group (they gave up on physical results presentations & AGM's after CEO Bruce Henderson left some years ago) ARE BOTH only undertaking electronic AGM's Electronic only AGM's are so 2020..wake up corporates & get back to meeting your shareholders & interested cohorts This is unacceptable regards shareholder accountability and transparency Do management think us analysts & shareholders who may want to attend & 'press the proverbial flesh' will pass on Leprosy or Dengue Fever ?

Pretty solid update from mid-cap food business $JSERFH Rhodes Foods Group - all be it coming off a pretty dire like-off-like base. Much of the 'mess' been mixed up at past deals & some recovery seen in key segments #RFG 4.52% to R8.71 but still -32% year to date

Probably explains why $JSEOCE Oceana has acquired a canning line - a range of Lucky Star meat products will surely give market leader Bull Brand owner by $JSERFH Rhodes Foods a run for its money

In October 2014 $JSERFH Rhodes Foods Group listed on JSE at 1200 cents its been as high as 2954 cents and has been on the slide since 2016 Today 1202 cents its literally back to IPO price & while stock looks really interesting I can see it still drifting lower Prefer Libstar