Banks in good shape to weather storm - Business Day
The big four banks are well positioned for the negative turn expected in the lending cycle, analysts have said after the recent release of their results. Standard Bank and FirstRand have pulled ahead of the pack to compete neck-and-neck for the top position.
Strike action hurts Metair - Moneyweb
Last year’s debilitating strike in the automotive sector cost automotive component manufacturer Metair R87 million in lost profit (before interest and tax), while strikes in the mining industry cost its non-automotive division a further R41 million.
Tongaat Hulett takes flak over land sales - Business Day
A Tongaat Hulett shareholder believes the group is taking the wrong tack as it battles the “strong headwinds” facing sugar producers, and that it should shift more effort to developing and retaining its valuable KwaZuluNatal property holdings.
RCL to exit euro debt that Foodcorp took on - Bloomberg
The rand’s slide over the past year has persuaded RCL Foods, the country’s biggest chicken producer, to switch out of euro-denominated bonds into rand debt to ease the fallout from the currency’s decline.
Why banks rock - Moneyweb
In a climate of low economic growth and a declining consumer cycle, banks are not always popular investment holdings. However, one asset manager believes there is value to be had in the sector and not one but two banking stocks are its top holdings across their equity funds.
AVI grows profit in tough conditions - Business Day
Branded consumer products group AVI grew its earnings 10% in the six months to December, which CEO Simon Crutchley said was a “solid performance in a pretty constrained environment”.
How not to blow R209bn - Moneyweb
The restructure underway at Sasol is the biggest organisational and management change the petrochemical company has experienced in its 64-years of operation and is worth taking note of.
Inflation pass-through still to come for retail - Business Day
With little relief on the horizon to buoy spending, the consumer confidence outlook for the remainder of the year is anything but optimistic. There is little to support expenditure as inflation and living costs continue to rise, putting strain on disposable income.
RMI stakes in insurers 'doing well' - Business Day
Rand Merchant Insurance Holdings (RMI), which holds significant investments in four South African insurance groups, grew its diluted headline earnings per share 24% to 93.7c in the half-year to December.
Mpact earnings rise on plastics division growth - Business Day
Mpact yesterday reported that underlying operating profit increased 12% and underlying earnings per share shot up 22.2% in the year to December. The company, one of the largest paper and plastics packaging businesses in southern Africa, said the results reflected a “solid” operating performance and “sound” strategy.
Regulators, competition threaten MTN - Business Day
MTN is under pressure from regulators in its two biggest markets – Nigeria and SA – with intense competition also threatening its growth, especially in SA.
FirstRand 'to weather rise in bad debt' - Business Day
FirstRand is steeling itself for rising interest rates, which will see bad debts grow as battered consumers face increasing financial pressure.
PMI higher but business activity still restrained - Engineering News
The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) increased by 1.8 index points to 51.7 in February, helped by a rebound in the new sales orders index.