The company will fully settle its long-term debts at the end of October and CEO Richard Brasher has no immediate plans to take on more. Simon Anderssen comments.
CEO hails ‘exceptional improvement’ in performance despite write-off of loan facility to unbundled subsidiary Dairy Farmers of SA. Dirk van Vlaanderen comments.
Storm clouds are gathering and are about to burst for consumers, economists warned, after poor GDP data released this week confirmed that South Africa was in a technical recession. Abdul Davids comments.
PPC’s joint venture factory in the Democratic Republic of Congo has been a big drag on group results for the year ended March 2018, making up nearly half the company’s losses. Meyrick Barker comments.
Basil Read, one of seven major construction and engineering groups that has agreed with the government to speed transformation by selling assets or mentoring black contractors, has been placed in business rescue, amid a crunch in cash-flows. Meyrick Barker comments.
By not declaring a dividend in the six months to March 2018, Nampak is hedging its bets amid improving business confidence and higher economic growth forecasts — both for SA and the continent. Dirk van Vlaanderen comments.
Naked Insurance, a Hollard-backed start-up, has become SA’s first operative insurer to relinquish underwriting profits through a business model that co-founder Alex Thomson says solves the “conflict of interest” inherent in insurance firms. Justin Floor comments.
There is a least one pocket of excellence left in the Eskom group and that is the Eskom Pension & Provident Fund. Abdul Davids comments.
Cigarette group has produced the goods over the years but there may be bumps ahead, writes Marc Hasenfuss. Dirk van Vlaanderen comments.
Liberty CE David Munro launched straight into a turnaround-strategy speech at Friday’s results, assuring investors the insurer had “all the ingredients for success” as it reported its second consecutive double-digit drop in full-year earnings. Justin Floor comments.
From a local perspective one might argue that the strong(er) rand environment is muting market enthusiasm for British American Tobacco. Dirk van Vlaanderen comments.
AECI has mainly shrugged off drought and SA’s disastrous mining impasse to deliver a “more than pleasing” result for the year ended December 2017. Aslam Davids comments.
Cigarette giant British American Tobacco (BAT) failed to ignite market sentiment despite dividends for the year to end-December increasing 15% to £1.95 a share and a blazing outlook for the group’s new products for smokers. Dirk van Vlaanderen comments.
Retail and wholesale group Massmart’s share price surged almost 9% after the group delivered a surprisingly satisfactory set of annual financial results despite battling weak consumer confidence. Dirk van Vlaanderen comments.
Pharmaceutical company Adcock Ingram is considering exports to the Asia-Pacific and South America as it looks to build its international business. Aslam Davids comments.
Gold miners have mixed feelings about the presidency of Cyril Ramaphosa. It could usher in a more investor-friendly mining regime, but at the same time, hopes that SA will be better managed have caused the rand to strengthen. Mandi Dungwa comments.
Imperial Holdings posted “solid” results for the six months ended December 2017, as talk of unbundling its Motus integrated motor vehicle group from its logistics arm came into focus. Abdul Davids comments.
For the six months to December, normalised operating profit rose 19% to R4bn on strong growth from established and new businesses. Discovery’s emerging businesses, Discovery Insure, Vitality Group and Ping An Health, swung from a R130m loss in the previous comparable period to a R66m profit. It is the first time that all three posted profit. Justin Floor comments.
Sasol seemed on track for a strong 2018 financial year, after the petrochemicals group said first-half earnings could rise 17%. The company said headline earnings per share for the six months to December were expected to be 12%-17% higher than the previous year’s. Abdul Davids comments.