SA Business

BlueTel final results May 2018

09h11 Revenue for the year increased to R26.800 billion (2017: R26.470 billion), operating profit lowered to R1.098 billion (2017: R1.175 billion), net profit for the year attributable to equity holders of the parent rose to R993.6 million (2017: R781.3 million), while headline earnings per share  Full story

Bidcorp final results June 2018

08h32 Revenue from continuing operations for the year increased by 8% to R119.4 billion (2017: R110.5 billion). Trading profit grew by 8.7% to R6 billion (2017: R5.5 billion). Operating profit was 2.6%. . .  Full story

Transpaco final results June 2018

08h01 Revenue for the year increased to R1.725 billion (2017: R1.640 billion), operating profit rose 14.4% to R139.2 million (2017: R121.7 million), profit for the year jumped to R97.5 million (2017: R86.4. . .  Full story

Fortress final results June 2018

21/08 Total revenue decreased to R3 633 million (2017: R3 893 million). Loss for the year attributable to equity holders came in at R4 869 million (2017: profit of R4 426 million).. . .  Full story

South Africa's rand firms as dollar hit by Trump Fed comments

21/08 South Africa's rand firmed on Tuesday as the dollar weakened after U.S. President Donald Trump criticised the head of the Federal Reserve for raising interest rates.. . .  Full story

Italtile final results June 2018

21/08 Turnover for the year increased by 65% to R6.064 billion (2017: R3.670 billion), gross profit rose by 56% to R2.328 billion (2017: R1.488 billion), trading profit came in at 43% higher. . .  Full story

South African retailer Pepkor's sales rise 13.8 percent

21/08 Retailer Pepkor Holdings Ltd, previously known as Steinhoff Africa Retail (STAR), on Tuesday reported a 13.8 percent rise in group revenue for the nine months to the end of June, as. . .  Full story

South African gold sector wage negotiations deadlock - union

21/08 South Africa's National Union of Mineworkers (NUM) said on Tuesday that wage negotiations in the gold sector were at a deadlock and the union had declared a dispute, a move that. . .  Full story

South Africa's new coal-fired plants must have emissions technology

21/08 South Africa's first privately built coal-fired power plants must have the latest technology to reduce harmful emissions, the energy minister said on Tuesday, as a wave of court challenges threaten to. . .  Full story

Profit drops, mining deaths spike at South Africa's Harmony Gold

21/08 South Africa's Harmony Gold reported a 43 percent fall in annual earnings on Tuesday, hurt by impairments and a loss relating to debt denominated in U.S. dollars, and a setback to. . .  Full story

South Africa's Shoprite logs first annual profit drop in 19 years

21/08 Africa's biggest grocer Shoprite reported its first annual earnings decline in 19 years on Tuesday, due to a currency devaluation in Angola and a lacklustre showing in its home South African. . .  Full story

South Africa's composite business indicator up 1.1 percent in June

21/08 The South African Reserve Bank's composite leading business cycle indicator rose 1.1 percent month-on-month in June, helped by improvements in the number of residential building plans and job advertisements, data showed. . .  Full story

BHPBill final results June 2018

21/08 Revenue from continuing operations jumped to USD43.6 billion (USD36.1 billion) whilst profit from operations also grew to USD16.0 billion (USD12.6 billion). Prfoit attributable to BHP shareholders lowered to USD3.7 billion (USD5.9. . .  Full story

South Africa's Imperial annual profit rises on acquisitions, sales

21/08 South African transport group Imperial Holdings reported a 27 percent rise in annual earnings on Tuesday, buoyed by acquisitions, higher vehicle sales and a strong performance in its auto dealership business.. . .  Full story

Imperial final results June 2018

21/08 Revenue from total operations for the year increased to 128.7 billion (2017: R115.9 billion). Operating profit from grew to R6.4 billion (2017: R6.0 billion). Net profit attributable to owners of Imperial. . .  Full story

Shoprite final results 1 July 2018

21/08 Sale of merchandise went up 3.1% to R145.3 billion (R141.0 billion) whilst gross profit was 2.7% higher at R34.7 billion (R33.8 billion). Operating profit lowered by 2.7% to R7.5 billion (R7.7. . .  Full story

Harmony final results June 2018

21/08 Revenue for the year ended June 2018 increased to R20.4 billion (2017: R19.3 billion). Gross loss rose to R3.1 billion (2017: R375 million), operating loss widened to R4.7 billion (2017: R994. . .  Full story

Clientele final results June 2018

20/08 Net insurance premiums for the year increased 11% to R2.076 billion (2017: R1.873 billion), profit for the year attributable to equity holders of the Group rose 5% to R490.3 million (2017:. . .  Full story

South Africa's Impala Platinum flags wider full-year loss

20/08 South African producer Impala Platinum (Implats) said on Monday that it expects its full-year loss to widen due to impairments relating to its Rustenburg assets.. . .  Full story

South Africa's Transnet to clamp down on unauthorised spending

20/08 South Africa's Transnet said on Monday it would clamp down on unauthorised expenses after uncovering problems with procurement at the state logistics firm.. . .  Full story

China sells diesel to South Africa as refiners seek new export markets

20/08 State-run oil company Sinopec is selling diesel as far afield as South Africa as China's refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic. . .  Full story

Ethiopian Airlines, Zambia to relaunch national airline at cost of $30 million

20/08 Ethiopian Airlines has signed a shareholding agreement with Zambia's main develoment agency to relaunch the southern African country's flag carrier at an initial cost of $30 million.. . .  Full story

AngloGold interim results June 2018

20/08 Revenue for the interim period was lower at USD2 billion (USD2.1 billion) whilst gross profit grew to USD410 million (USD325 million). Operating profit was recorded at USD119 million (loss of USD65. . .  Full story

South Africa's rand opens weaker as global EM jitters persist

20/08 South Africa's rand opened weaker on Monday as global risk aversion continued to put pressure on emerging market currencies.. . .  Full story

South Africa's Sasol FY profit drops as power outages hit production

20/08 South African petrochemicals group Sasol said on Monday full-year profit dropped 6 percent, pulled down by interruptions to production, a stronger rand and employee share-based payment expenses.. . .  Full story

AngloGold swings back into H1 profit, Obuasi mine reboot on track

20/08 AngloGold Ashanti swung back into a first-half profit on the back of higher production and lower-than-expected retrenchment costs, Africa's top gold producer said on Monday.. . .  Full story

Sasol final results June 2018

20/08 Turnover increased to R181.5 billion (2017: R172.4 billion). Earnings before interest and tax (EBIT) declined to R17.7 billion (2017: R31.7 billion). Profit for the year attributable to owners of Sasol. . .  Full story

South Africa's rand slides as lira plunge triggers EM sell-off

17/08 South Africa's rand weakened against the dollar on Friday, tracking its emerging market peers lower as the Turkish lira slid.. . .  Full story

resilient final results June 2018

17/08 Total revenue for the period jumped to R3.9 billion (R3.1 billion). Loss before net finance costs came to R2.7 billion (profit of R3.8 billion). Loss attributable to equity holders was. . .  Full story

S.Africa's cbank says nationalisation bill won't impact its independence

17/08 South Africa's central bank said on Friday that a proposed amendment bill aimed at nationalising the institution would have no impact on its independence or primary mandate of price stability.. . .  Full story

Harmony Gold says impairments will dent full-year earnings

17/08 South Africa's Harmony Gold said on Friday its full-year earnings would be lower than last year due to impairments against a number of its mines as well as foreign exchange losses.. . .  Full story

Leftists rattle rand with plan to nationalise South Africa's central bank

17/08 Opposition firebrand Julius Malema introduced a bill to nationalise South Africa's central bank, raising pressure on the ruling ANC to go through with a plan it shelved this year and rattling. . .  Full story

Afraid of no-one and ready for a long strike, union leader tells Implats

17/08 Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans. . .  Full story

South African rand surrenders gains as economy concerns weigh

16/08 South Africa's rand surrendered its earlier gains in late trade on Thursday due to lingering concerns over the economy, while a rebound in market heavyweight Naspers brought some relief on the. . .  Full story

S.Africa's Truworths creates COO role to boost sales as FY profit falls

16/08 South African fashion retailer Truworths International has created a chief operating officer position to boost retail sales growth at home and in the UK, where consumer spending remains under pressure and. . .  Full story

Gold Fields boss says not resigning after S.Africa minister's rebuke

16/08 Gold Fields' chief executive officer Nick Holland said on Thursday he was not considering resigning after mines minister Gwede Mantashe blamed the company's plan to cut jobs at its struggling South. . .  Full story

South Africa's Ramaphosa to appoint inquiry into $130 bln state pension fund

16/08 South African President Cyril Ramaphosa has agreed to set up a commission of inquiry into alleged governance failures at the state-owned pension fund, the Finance Ministry said on Thursday.. . .  Full story

Truworths final results June 2018

16/08 Revenue for the year decreased by 3% to R19.3 billion (2017: R19.9 billion). Gross profit was 3% lower at R9.2 billion (2017: R9.5 billion). Operating profit dropped by 6% to R3.9. . .  Full story

City Lodge final results June 2018

16/08 Revenue for the year decreased by 1% to R1.50 billion (R1.52 billion). Results from operating activities lowered 6% to R467.5 million (R496.4 million). Profit for the period took a 5% knock. . .  Full story

AdaptIT final results June 2018

16/08 Revenue for the year soared to R1.354 billion (2017: R996.4 million), gross profit jumped to R815.3 million (2017: R573.3 million), profit from operations rose to R218.2 million (2017: R151 million), while. . .  Full story

Gold Fields' CEO says not considering resigning after minister criticism

16/08 Gold Fields Ltd Chief Executive Nick Holland said on Thursday he was not considering resigning after South Africa's mines minister Gwede Mantashe blamed "poor management" for planned job cuts at its. . .  Full story

Gold Fields interim results June 2018

16/08 Revenue for the interim period increased to USD1.351 billion (2017: USD1.305 billion). Loss for the period attributable to owners of the parent came to USD366.6 million (2017: profit of USD51 million).. . .  Full story

Standard Bank interim results June 2018

16/08 Total income for the interim period rose to R65.5 billion (R61.2 billion). Profit for the period attributable to ordinary shareholders jumped to R12.7 billion (R12.3 billion). In addition, headline earnings per. . .  Full story

Arbitration move by South Africa's Eskom threatens to delay wage deal

16/08 South African power firm Eskom on Wednesday sought arbitration in a dispute with unions over whether some staff who went on strike illegally should be disciplined, threatening to delay implementation of. . .  Full story

South Africa's Transnet CEO and officials face suspension -chairman

16/08 The chief executive of South Africa's Transnet and two other senior officials have been told they will be suspended, the chairman of the state-owned logistics utility said on Wednesday, without giving. . .  Full story

South Africa's Exxaro H1 profit lifts boosted by coal performance

16/08 South Africa's Exxaro Resources Ltd said on Thursday half-year profit rose 8 percent, boosted by a strong performance in its core coal business.. . .  Full story

South Africa's Standard Bank H1 profit up 5 percent

16/08 South African lender Standard Bank's first-half profit rose by 5 percent, helped by a strong showing from its businesses outside its home market, the bank said on Thursday.. . .  Full story

Metair interim results June 2018

16/08 Revenue to the interim period grew to R4.5 billion 9R4.1 billion) whilst operating profit jumped to R412.9 million (R354.9 million). Profit for the period attributable to equity holders rose to R261.7. . .  Full story

Uganda wants unit of MTN Group to list locally before licence extension

16/08 Uganda has asked the local unit of South African telecoms giant MTN Group to list some of its shares on the local stock exchange as a condition for renewing its operating. . .  Full story

ARB final results June 2018

16/08 Revenue for the year increased by 4.5% to R2.590 billion (2017: R2.479 billion). Gross profit rose by 3.5% to R615.2 million (2017: R594.4 million). Operating profit lowered by 5.7% to R204.3. . .  Full story

Exxaro interim results June 2018

16/08 Revenue for the interim period increased to R12.3 billion (2017: R10.7 billion), net operating profit climbed to R3.1 billion (2017: R3 billion), profit attributable to owners of the parent from continuing. . .  Full story

South African rand slumps after Moody's warning, stocks tumble

15/08 South Africa's rand slumped on Wednesday as ratings agency Moody's warned that the pace of fiscal consolidation in Africa's most industrialised nation had slowed and retail sales data disappointed, underlining the. . .  Full story

South Africa hikes sugar import duties to protect local industry

15/08 South Africa has raised import duties on sugar to $680 from $566 a tonne to protect the domestic industry against a surge in imports, the trade and industry minister said on. . .  Full story

South Africa's retail sales up 0.7 percent y/y in June

15/08 South African retail sales rose 0.7 percent year-on-year in June after increasing by 1.9 percent in May, the statistics office said on Wednesday.. . .  Full story

Emira final results June 2018

15/08 Revenue for the interim period was higher at R1.8 billion (R1.7 billion) whilst operating profit jumped to R1.1 billion (R985.1 million). Profit for the year rose to R848.6 million (R712.2 million).. . .  Full story

South Africa's VAT hike had muted inflation impact: cbank

15/08 A one percentage point rise in South Africa's value-added tax (VAT) in April has had a more muted impact on inflation than expected, the governor of the central bank told a. . .  Full story

S.Africa's 2018 growth to be "much lower" than initial forecasts: cbank

15/08 South Africa's economic growth this year will be "much lower" than initial expectations, the central bank said in a presentation to parliament on Wednesday, calling any recovery "weak and choppy".. . .  Full story

Eastplats interim results June 2018

15/08 Operating loss for the interim period narrowed to USD4.9 million (2017: USD5.4 million). Net loss for the period attributable to equity shareholders of the company widened to USD5.4 million (2017: USD4.7. . .  Full story

Gold Fields' CEO says South Deep lay-offs "last-gasp measure"

15/08 Gold Fields' plan to potentially cut up to almost 1,600 jobs at its struggling South Deep mine in South Africa is a "last-gasp measure", Chief Executive Nick Holland said on Wednesday.. . .  Full story

South Africa's rand rebounds as Turkey-led rout eases, stocks falter

14/08 South Africa's rand gained more than 2 percent on Tuesday, bouncing off a two-year low struck a day before, when investors dumped emerging market assets because of fears over the Turkish. . .  Full story

Lazard drafting plan to bolster balance sheet of S.Africa's Eskom: sources

14/08 South African state-owned power firm Eskom has hired financial adviser Lazard to draft a plan to shore up its balance sheet as it struggles to emerge from a financial crisis, two. . .  Full story

South Africa's Gold Fields plans to cut jobs in mine restructuring

14/08 South Africa's Gold Fields said on Tuesday it plans to cut costs and 1,100 jobs at its struggling South Deep mine, sending its shares down more than 12 percent.. . .  Full story

S.Africa’s Ramaphosa proposes new sovereign wealth fund: party officials

14/08 South African President Cyril Ramaphosa has proposed setting up a sovereign wealth fund to help boost economic growth, and his ruling African National Congress (ANC) backs the plan, two senior party. . .  Full story

Atlatsa interim results June 2018

14/08 Revenue for the interim period fell to CAD5.5 million (2017: CAD84.2 million), gross loss narrowed to CAD4.1 million (2017: loss of CAD27.6 million), operating loss lowered to CAD34.5 million (2017: loss. . .  Full story

KAP final rsults June 2018

14/08 Revenue for the year rose 16% to R23 billion (R19.8 billion). Operating profit before capital items went up 15% to R2.9 billion (R2.5 billion). Profit attributable to owners grew 15% to. . .  Full story

South Africa's mining output up 2.8 percent y/y in June

14/08 South Africa's total mining output rose 2.8 percent year-on-year in June, the country's statistics agency said on Tuesday.. . .  Full story

Capreg interim rsults June 2018

14/08 Revenue from continuing operations grew to GBP45.5 million (GBP43.9 million) whilst profit on ordinary activities before financing lowered to GBP12.9 million (GBP20.4 million). Profit for the period decreased to GBP6.7 million. . .  Full story

Curro interim results June 2018

14/08 Revenue for the interim period increased 18% to R1.242 billion (2017: R1.051 billion), earnings before interest, taxation, depreciation and amortisation ("EBITDA") jumped 31% to R335 million (2017: R255 million), profit attributable. . .  Full story