SA Business

Ecsponent interim results December 2018

10h13 Revenue for the interim period increased to R200.2 million (2017: R154.6 million), operating profit jumped to R218.1 million (2017: R128.2 million), profit for the period from continuing operations fell to R3.8 million (2017: R15.7 million), while headline earnings per share attributable to  Full story

South Africa's rand slips as global risk rally slows

09h22 South Africa's rand slipped on Tuesday, surrendering the previous session's scant gains as the dollar steadied from a sell-off triggered by fears the United States economy is heading for recession.. . .  Full story

Ethos Capital interim results December 2018

09h15 Total income for the year dropped to R34.3 million (2017: R82 million) and profit for the period narrowed to R13 million (2017: R64.3 million). In addition, headline earnings per share lowered. . .  Full story

Master Drilling final results December 2018

07h42 Revenue for the year increased to USD138.7 million (2017: USD121.4 million), gross profit decreased to USD43.6 million (2017: USD44.6 million), operating profit lowered to USD23.6 million (2017: USD24.9 million), profit attributable. . .  Full story

South Ocean final results December 2018

25/03 Revenue for the year increased 21.2% to R1.728 billion (2017: R1.426 billion), gross profit jumped to R143.5 million (2017: R66.6 million), operating profit soared to R61 million (2017: R19.3 million), profit. . .  Full story

Rex True interim results December 2018

25/03 Revenue for the interim period increased by 13.9% to R361.9 million (2017: R317.7 million), gross profit rose 17.5% to R190.8 million (2017: R162.4 million), operating profit soared to R32.2 million (2017:. . .  Full story

South Africa's rand firms on weaker dollar, stocks fall

25/03 South Africa's rand firmed on Monday, gaining alongside other emerging market currencies as concerns over a possible recession in the United States dented the dollar.. . .  Full story

Af & Ovr interim results December 2018

25/03 Revenue for the interim period increased 13.9% to R361.7 million (2017: R317.5 million), gross profit rose 17.5% to R190.8 million (2017: R162.4 million), operating profit soared to R31 million (2017: R8.9. . .  Full story

Eskom price hike to cost South Africa 90,000 mining jobs - Minerals Council

25/03 South Africa's gold and platinum mines will shed around 90,000 jobs in the next three years as above-inflation electricity price increases by power utility Eskom add to already soaring operating costs,. . .  Full story

KayDav final results December 2018

25/03 Revenue for the year increased to R999.2 million (2017: R945 million), gross profit rose to R272.6 million (2017: R258.1 million), operating profit soared to R42.6 million (2017: R21.8 million), profit for. . .  Full story

South Africa's Taste Holdings appoints Dylan Pienaar as CEO

25/03 South Africa's Taste Holdings said it had appointed its chief operating officer, Dylan Pienaar, as chief executive officer effective on Monday as part of its restructuring.. . .  Full story

Tencent shareholder Naspers plots Euronext e-commerce IPO

25/03 Tencent shareholder Naspers plans to float a portion of its e-commerce ventures on Euronext in Amsterdam, a move South Africa's biggest company said on Monday will create Europe's largest listed. . .  Full story

Lonmin warns on liquidity and persistent challenges

25/03 Lonmin Plc, which is being bought by Sibanye-Stillwater, said it does not have sufficient liquidity to fund the new projects needed to avoid shaft closures and job losses.. . .  Full story

South Africa's 2019 maize crop seen down 16 pct on drought conditions

25/03 South Africa is likely to harvest 16 percent less maize in 2019 compared with the previous season after drought delayed plantings, a Reuters poll showed on Monday.. . .  Full story

Gemfields final results December 2018

25/03 Revenue for the year shot up to USD206.1 million (USD81.7 million). Loss from operations amounted to USD45.1 million (profit of USD54.7 million). Loss for the year attributable to owners came to. . .  Full story

York interim results December 2018

25/03 Revenue for the interim period lowered to R800.2 million (2017: R899.4 million), gross profit dropped to R191.5 million (2017: R303.4 million) and loss for the period was recorded at R64.8 million. . .  Full story

South African tax workers to strike over pay dispute

23/03 Workers in South Africa's tax-collecting agency intend to strike next week after talks on wage increases failed but a further round might still avert the action, the agency said.. . .  Full story

Eskom power cuts to hit South Africa GDP -Goldman Sachs

22/03 Severe planned power cuts at South African state-run utility Eskom are expected to shave 0.3 percentage points off first-quarter GDP growth, Goldman Sachs said on Thursday.. . .  Full story

South Africa's rand flat after post Fed rally

22/03 South Africa's rand traded sideways early on Friday in subdued volumes following a bank holiday and a quiet session in Asia, pausing a Fed-inspired rally that had lifted the currency away. . .  Full story

GTCSA final results December 2018

22/03 Rental revenue increased to EUR110.5 million (2017: EUR91.1 million)and gross margin from operations was higher at EUR111.6 million (2017: EUR92.1 million). Profit for the year attributable to equity holders of the. . .  Full story

Eskom planned power cuts to hit South Africa Q1 GDP growth -Goldman Sachs

21/03 Severe planned power cuts - termed "load-shedding" - at South Africa's state-run utility Eskom are expected to shave 0.3 percentage points off first-quarter GDP growth, Goldman Sachs said on Thursday.. . .  Full story

Suspended Steinhoff CFO helps authorities with fraud investigation

20/03 The suspended former chief financial officer of Steinhoff is helping authorities with investigations into $7 billion-plus accounting fraud at the South African retailer, he said on Thursday.. . .  Full story

Freedom final results February 2016

20/03 Revenue for the period rose to R38.5 million (R21.4 million) whilst gross profit also increased to R28.5 million (R20.9 million). Operating loss narrowed to R34.8 million (loss of R141.0 million). In. . .  Full story

S.African court rules extension of wage agreement to AMCU valid and lawful

20/03 South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the. . .  Full story

South Africa's February inflation tame, central bank to keep rates pat

20/03 South African inflation was in line with forecasts in February at 4.1 percent annually and 0.8 percent month-on-month as food prices remained steady, supporting expectations the central bank will keep interest. . .  Full story

South Africa's FDI inflows reach five-year high in 2018

20/03 South Africa's foreign direct investment more than doubled in 2018 to reach its highest in five years, the central bank said on Wednesday, giving a boost to President Cyril Ramaphosa's pledge. . .  Full story

South Africa's central bank likely to hold rates on March 28

20/03 South Africa's Reserve Bank is expected to leave interest rates unchanged next week, and with a weak currency threatening to stoke inflation, it probably won't cut rates this year, a Reuters. . .  Full story

South Africa's rand stutters as electricity crisis weighs

20/03 South Africa's rand edged lower on Wednesday, lagging gains in its emerging market counterparts, as the prospect of rolling blackouts and bleak demand for local currency dented sentiment.. . .  Full story

Zimbabwe seeks to raise $350 million selling shares in state firms

19/03 Zimbabwe expects to raise $350 million from selling shares in five state-owned telecommunications companies and a bank, as part of economic reforms being pursued by the government, Finance Minister Mthuli Ncube. . .  Full story

Remgro interim results December 2018

19/03 Sales for the interim period increased to R30.3 billion (2017: R14 billion) whilst trading profit rose to R2.7 billion (2017: R741 million). Net profit for the period attributable to equity holders. . .  Full story

Ex-CEO, seven others responsible for Steinhoff fraud, new CEO tells lawmakers

19/03 Former Steinhoff Chief Executive Markus Jooste and seven others were involved in a 6.5 billion euro ($7.4 billion) accounting fraud at the South African retailer, the new CEO told lawmakers on. . .  Full story

No end date for South African power cuts as capacity shortages persist

19/03 South Africa's Public Enterprises Minister Pravin Gordhan said on Tuesday he cannot say yet when rolling blackouts will end, as power utility Eskom struggles with capacity shortages that threaten to thwart. . .  Full story

Sasfin interim results December 2018

19/03 Total income for the interim period grew to R608.6 million (R575.3 million). Profit from operations increased to R106.3 million (R102.2 million). Profit attributable to equity holders rose to R74.5 million (R46.1. . .  Full story

Alaris interim results December 2018

19/03 Revenue for the interim period lowered to R85 million (2017: R102.6 million), gross profit dropped to R57.3 million (2017: R74.8 million) and trading operating profit narrowed to R8 million (2017: R27.5. . .  Full story

South Africa's rand steady, investors eye Fed meeting

19/03 South Africa's rand traded flat on Tuesday as the dollar sagged on expectations the Federal Reserve would adopt a dovish outlook this week and concerns about slower U.S. economic growth.. . .  Full story

Astoria final results December 2018

19/03 Total loss for the year was USD13.9 million (2017: total revenue of USD28.3 million), operating loss came to USD16.7 million (2017: operating profit of USD26 million) and total comprehensive loss for. . .  Full story

Hulamin final results December 2018

19/03 Revenue from contracts with customers for the year increased to R11.534 billion (2017: R10.304 billion), gross profit decreased to R867.9 million (2017: R1.132 billion), operating loss came in at R949.9 million. . .  Full story

Former Steinhoff chairman Wiese open to talks over $4 bln claim

18/03 Former Steinhoff chairman and top shareholder Christo Wiese said on Monday he is open to negotiations over a $4 billion claim against the South African retailer, days after it revealed the. . .  Full story

South Africa's power cuts to continue as Eskom battles shortages

18/03 South Africa's state utility Eskom will make more power cuts this week as it struggles with capacity shortages that threaten to stymie President Cyril Ramaphosa's efforts to boost investments and economic. . .  Full story

Raven final results December 2018

18/03 The following results are the company's maiden final results rendering them incomparable. Revenue for the year came in at GBP162.6 million whilst operating loss was GBP31.6 million. Loss for the year. . .  Full story

HomeChoice final results December 2018

18/03 Revenue for the year increased by 8.5% to R3.247 billion (2017: R2.993 billion) and operating profit was 2.6% higher at R763 million (2017: R744 million). Profit and total comprehensive income for. . .  Full story

SunInt final results December 2018

18/03 Revenue for the year was higher at R16.4 billion (R15.4 billion), whilst operating profit was R2.3 billion (R2.2 billion). Loss attributable to ordinary shareholders of R7 million (loss of R243 million). . .  Full story

South Africa's rand weakens on continued rolling power cuts

18/03 South Africa's rand weakened slightly early on Monday as continued rolling power cuts from the state-owned power utility weighed on market sentiment ahead of local and international economic data due later. . .  Full story

Ascendis interim results December 2018

18/03 Revenue for the interim period was higher at R4.0 billion (R3.9 billion) whilst gross profit increased to R1.8 billion (R1.6 billion). Operating profit lowered to R475.0 million (R481.7 million). Prfoti attributable. . .  Full story

ADvTECH final results December 2018

18/03 Revenue for the year increased 11% to R4.389 billion (2017: R3.938 billion), earnings before Interest, Taxation, Depreciation and Amortisation ("EBITDA") rose 14% to R942.1 million (2017: R823.3 million), profit for the. . .  Full story

Bell final results December 2018

18/03 Revenue for the year increased to R7.5 billion (2017: R6.9 billion), gross profit grew to R1.5 billion (2017: R1.3 billion) and profit from operating activities rose to R453.8 million (2017: R403.5. . .  Full story

GPI interim results December 2018

18/03 Revenue for the interim period increased to R707.3 million (2017: R554.2 million ). Gross profit was higher at R335 million (2017: R265.8 million). Profit from operations decreased to R19.6 million (2017:. . .  Full story

South Africa's Eskom ups power cuts as storm hits Mozambique imports

16/03 South African state utility Eskom stepped up rolling blackouts on Saturday as it lost 900 megawatts of electricity imports from neighbouring Mozambique, which was hit this week by a cyclone.. . .  Full story

S.Africa's Competition Tribunal approves Glencore's bid for Chevron subsidiary

15/03 South Africa's Competition Tribunal on Friday approved with conditions Glencore's proposed $973 million acquisition of Chevron Corp's subsidiary in the country.. . .  Full story

Eskom says South African power cuts to last till Sunday

15/03 South Africa's struggling state power firm Eskom said power cuts would continue until Sunday and warned that further cuts were likely next week, underscoring the risks to businesses in Africa's most. . .  Full story

S.Africa's Tsogo Sun CEO to retire, hotel business spin-off to go ahead

15/03 South African hotelier and casino operator Tsogo Sun said on Friday it is going ahead with the spinoff of its hotel business, as it announced its chief executive would retire in. . .  Full story

South African court blocks mine union's plan for industry-wide strike

15/03 South Africa's labour court has rejected a request by the Association of Mineworkers and Construction Union (AMCU) to hold an industry-wide strike covering the platinum and gold sectors, Anglogold Ashanti, Anglo. . .  Full story

Resgen interim results December 2018

15/03 Revenue from continuing operations decreased to AUD103 000 (AUD179 000). Loss attributable to owners widened to AUD6.7 million (AUD1.2 million). Furthermore, headline loss per share was recorded at AUD1.16cps (AUD0.21cps). Dividends No dividends. . .  Full story

Metrofile interim results December 2018

15/03 Revenue for interim period increased to R490.2 million (2017: R456.1 million) whilst earnings before interest, taxation, depreciation and amortisation (EBITDA) lowered to R123.7 million (2017: R127.6 million). Operating profit decreased to. . .  Full story

Cognition interim results December 2018

15/03 Gross revenue for the interim period grew by 5.1% to R210.7 million (2017: R200.4 million) and gross profit increased by 14% to R56.2 million (2017: R49.3 million). Profit attributable to owners. . .  Full story

South Africa's rand recovers as trade deal hopes rise

15/03 South Africa's firmed early on Friday, reversing some of its losses from the previous session with demand for emerging market currencies boosted by new signs of a trade deal between China. . .  Full story

Euromet interim results December 2018

15/03 Revenue from continuing operations decreased to AUD7 219 (AUD71 302). Net loss for the period attributable to ordinary equity holders widened to AUD1.5 million (AUD712 548). In addition, loss per share. . .  Full story

South Africa's Standard Bank to cut around 1,200 jobs, close 91 branches

14/03 South African lender Standard Bank will cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank, it said on Thursday.. . .  Full story

South Africa steps up power cuts after fault at new mega plant

14/03 South Africa's state utility Eskom stepped up power cuts on Thursday after a breakdown at its mammoth Kusile power plant project exacerbated a shortfall of generating capacity, reminding investors of. . .  Full story

Vedanta to shut Namibian zinc refinery for five weeks

14/03 Vedanta Zinc International, a unit of diversified miner Vedanta Resources, said on Thursday it would close its zinc refinery in Namibia for five weeks after a strike by its mining contractor. . .  Full story

South Africa's manufacturing output up 0.3 pct y/y in January

14/03 South Africa's manufacturing output barely grew in January, rising by 0.3 percent year-on-year after a flat reading of 0 percent in December, the statistics agency said on Thursday.. . .  Full story

World Bank to lend Angola $1 billion

14/03 The World Bank will lend Angola $1 billion to fund social security and water projects, the president's office said on Wednesday.. . .  Full story

South African rand weaker before manufacturing, mining data

14/03 South Africa's rand was weaker on Thursday before mining and manufacturing data releases later in the day which will give clues about the pace of economic recovery in Africa's most industrialised. . .  Full story

Capreg final results December 2018

14/03 Revenue for the year went up to GBP91.0 million (GBP89.2 million) whereas gross profit was higher at GBP56.1 million (GBP55.7 million). Loss for the year came in at GBP25.6 million (profit. . .  Full story

MC Mining interim results December 2018

14/03 Revenue from continuing operations lowered to USD15.2 million (2017: USD17 million) and operating loss narrowed to USD741 000 (2017: loss of USD91.8 million). Loss for the period attributable to owners of. . .  Full story

South Africa sugar tax to cut industry revenues, prompt reform -USDA

14/03 South Africa's sugar tax could slash industry revenues and prompt restructuring of the country's sugar sector, the U.S. Department of Agriculture (USDA) said in a report published on Wednesday.. . .  Full story

RMBH interim results December 2018

14/03 Net income was higher at R5.5 billion (R4.2 billion). Income from operations rose to R5.5 billion (R4.2 billion), while profit attributable to equity holders increased to R5.4 billion (R4.1 billion). In. . .  Full story

South Africa's Exxaro Resources FY earnings jump on higher coal prices

14/03 South African coal mining company Exxaro Resources Ltd said on Thursday its full-year earnings climbed 7 percent, boosted by higher coal prices and the absence of one-off transactions seen a year. . .  Full story

South Africa's MTN aims to expand local shareholding of its Ugandan unit to 20 pct - CEO

14/03 MTN Group's Uganda unit is looking to boost local shareholding to 20 percent from 4 percent this year, the South African telecoms giant's Chief Executive Robert Shuter said.. . .  Full story

Metair final results December 2018

14/03 Revenue for the year grew to R10.3 billion (R9.5 billion) whilst gross profit rose to R1.9 billion (R1.8 billion). Operating profit increased to R1.0 billion (R0.8 billion). Profit attributable to equity. . .  Full story

Exxaro final results December 2018

14/03 Revenue for the year increased to R25.5 billion (2017: R22.8 billion), operating profit rose to R5.7 billion (2017: R5.2 billion), profit for the year from continuing operations grew to R7 billion. . .  Full story

ARCInvest interim results December 2018

14/03 Profit for the period lowered to R77 million (R462 million). Furthermore, headline earnings per share also tumbled to 7cps (96cps). Dividends The company's ability to pay dividends is a function of the return. . .  Full story

Sabvest final results December 2018

13/03 Gross income from operations and investments lowered to R364.4 million (R570.9 million). Net income before expenses and exceptional items dived to R332.7 million (R553.0 million). Net income for the year attributable. . .  Full story

MTN to list Nigerian unit towards April and May - MTN Nigeria CEO

13/03 South African telecoms firm MTN Group Ltd expects its Nigerian subsidiary to list on the local stock exchange "probably more towards April and May", the unit's chief executive said on Wednesday.. . .  Full story

Global final results November 2018

13/03 Revenue from continuing operations for the year increased to R3.3 million (2017: R482 977), operating loss widened to R13 million (2017: loss of R2.9 million), loss attributable to equity holders of. . .  Full story