201703 March 2017
Standard Bank’s share price jumped more than 7 percent on Thursday after the lender reported a sterling set of results, despite its ongoing fiasco with the Competition Commission.Richard Hasson comments.
Continue Reading01 March 2017
One-off nontrading items hit Wilson Bayly Holmes-Ovcon (WBHO) for a six in the interim period to December 2016. These included a R170m payment arising from the voluntary agreement the construction and engineering group had signed with the government. This saw headline earnings per share plunge 38%. Without this, earnings per share and headline earnings per share would have risen about 10%. Mish-al Emeran comments. Continue Reading01 March 2017
Cashbuild is on the lookout for more acquisitions. New stores and acquisitions have boosted profits for the six months to end December. Damon Buss comments. Continue Reading23 February 2017
"Murray & Roberts reported a disappointing set of results, below market expectations," Mish-al Emeran, an equity analyst at Electus Fund Managers, said on Wednesday. Mish-al Emeran comments. Continue Reading22 February 2017
Shoprite’s interim results, which showed that the grocery and furniture retailer continues to buck SA’s retail malaise, can arguably be viewed as a fitting sendoff for Whitey Basson, who recently ended his 37-year-long run at the company. Damon Buss comments. Continue Reading22 February 2017
Mining giant BHP Billiton returned to profitability in the six months to end December, benefiting from higher commodity prices, cost cutting measures and roughly $6 billion (R78.43 billion) in one-off charges, mainly write downs against US energy assets. Mish-al Emeran comments. Continue Reading22 February 2017
Shares in international multi-disciplinary private healthcare group Mediclinic traded 4.6 percent weaker on the JSE on Tuesday after the group released a trading update. Neil Brown comments.
Continue Reading17 February 2017
Upmarket retailer Woolworths will ramp-up investments in its Australian department store chain David Jones in the next nine months, as tough trading conditions have undermined the business’s fortunes. Damon Buss comments. Continue Reading14 February 2017
What stands between the creation of a mega cement maker that would be able to compete internationally is not only for the deal to pass muster among shareholders but also one that meets approval of the competition authorities. Mish-al comments. Continue Reading10 February 2017
Royal Bafokeng Platinum (RBPlat) expects headline earnings per share to soar between 196.2% and 209.4% in the year ended December 2016, compared with a headline loss per share in 2015.Mish-al Emeran comments. Continue Reading10 February 2017
Recent trading updates point to an industry besieged by cheap chicken imports and maize prices that are still too high for comfort. Damon Buss comments. Continue Reading31 January 2017
The education provider concludes its first tertiary partnership outside of its home market. The R320 million investment by the International Finance Corporation (IFC), a member of the World Bank, into AdvTech was underlined on Monday, as the fast-growing education provider made good on its promise to grow into the tertiary education sector. Continue Reading26 January 2017
BHP Billiton's share price was now trading closer to its intrinsic value, Electus Fund Managers equity analyst Mish-al Emeran said on Wednesday.Continue Reading25 January 2017
Food producer AVI says revenue for the 6 months to December was 11.6 percent higher, despite a constrained trading environment. Damon Buss comments.Continue Reading20 January 2017
Cashbuild’s meteoric rise since 2009 came just as stock exchanges around the world imploded into the global financial crisis. Damon Buss comments. Continue Reading19 January 2017
South African shoppers with limited spending money are turning to low-cost supermarket chains such as Shoprite Holdings Ltd. for cheaper food and eschewing new clothes to counter accelerating inflation. Damon Buss comments. Continue Reading13 January 2017
A settlement agreement between the government and major construction firms to fast-track transformation in the industry is still being held up, despite sea changes in the sector. Mish-Al Emeran comments. Continue Reading13 January 2017
There are further signs of trouble in SA’s struggling retail sector, with Woolworths releasing a poor trading update that analysts say can only be a bad omen for the rest of the retailers still to release their Christmas figures. Damon Buss.Continue Reading12 January 2017
In the four weeks since the announcement of a proposed tie-up between Steinhoff and Shoprite, the share price movements suggest investors believe the deal will be priced in Steinhoff’s favour, but only just. Neil Brown comments. Continue Reading09 January 2017
Who would have thought that supermarkets would be big enough to have a significant effect on the local economies in which they operate? Damon Buss comments.Continue Reading07 March 2017
AVI says rooibos input costs and selling prices are at record highs. In the first half of the group’s financial year, raw material costs increased by R61m, or about 70%, and selling prices in the category spiked 40% as a result. Damon Buss comments. Continue Reading07 March 2017
Food and beverages company AVI has said it would focus its energies on pursuing a balance between prices and sales volumes for its brands in expectation that consumers would remain under pressure. Damon Buss comments. Continue Reading10 March 2017
Financial services group Old Mutual said the year ahead would be characterised by hard work required to get the businesses ready for separation in the next year. Richard Hasson comments.
Continue Reading15 March 2017
Germany’s ATM Holding has acquired 25.5% of Murray & Roberts’ shares on the JSE, making it the major shareholder. This comes as the group reported a more than 70% fall in its interim diluted continuing headline EPS (HEPS) for the six months to December. Mish-al Emeran comments.Continue Reading07 April 2017
Bid Corporation (BidCorp) has acquired 90 percent of Guzmán Gastronomía and Cuttings, a national Spanish multi-temperature food service company, for an undisclosed amount. Damon Buss comments. Continue Reading07 April 2017
Reports that Old Mutual has put up for sale its 50 percent stake in a Chinese insurance joint venture Guodian Corporation. Richard Hasson commentsContinue Reading18 April 2017
The rest of the year is bound to be uncertain for local retailers, with many of the problems encountered towards the end of 2016 resurfacing and worsening. This is reinforced by the latest Statistics SA data, which show retail sales in February 2017 declined 1.7% compared with sales in February 2016. Damon Buss comments. Continue Reading18 April 2017
Retail was pumping in the early 2000s. Sales growth hit a record high of 15.50% in September 2006 and averaged about 12% a year from 2004 to 2007. Damon Buss comments.Continue Reading20 April 2017
Retail giant Massmart on Wednesday warned that increasing policy uncertainty in South Africa would have negative consequences for the economy. Damon Buss comments.
Continue Reading25 April 2017
Imperial Holdings has sold 100% of the ordinary shares and also the tier-2 capital of the Regent insurance group to Hollard but has retained Regent’s value-added products (Vaps) business instead of selling it to MotoVantage in the Hollard stable. Damon Buss comments. Continue Reading26 April 2017
Standard Bank’s bad debts looked better in the first quarter as its mortgage book continued to improve. The recovery in the commodities sector resulted in its corporate and investment banking unit setting aside less cash for bad debts. Richard Hasson comments.
Continue Reading28 April 2017
Impala Platinum Holdings (Implats) shares slid for more than 4 percent in early trade on the JSE on Wednesday after the group announced that it planned to cut back on 1000 workers. The announcement came as the company continued to battle protest action at its Marula mine in Mpumalanga. The shares clawed back to close 2.68 percent weaker at R42.90. Mish-al Emeran comments.Continue Reading02 May 2017
Financial services group Old Mutual is forging ahead with its strategy to sell off businesses that it considers non-core assets with an announcement on Friday that it was planning to sell its 26 percent stake in an Indian insurance joint venture for £156 million (R2.69 billion). Richard Hasson comments. Continue Reading03 May 2017
Chemical conglomerate Sasol has revised its synfuel sales forecast for the year to June down to 60-million barrels from 61-million barrels in financial 2016, in a nine-month update to the end of March. Mish-al Emeran comments. Continue Reading06 May 2017
South Africa’s banking shares, which lost R80 billion in market capitalisation in a major sell-off following President Jacob Zuma’s cabinet reshuffle at the end of March, remained weak on Friday. Richard Hasson comments.Continue Reading06 May 2017
Edcon's ability to pay an administrative fee and to refund consumers after the National Consumer Tribunal found it had unlawfully charged club fees to its credit customers has come under question owing to Edcon's grim fortunes. Damon Buss comments. Continue Reading09 May 2017
Construction company Raubex reported a 14% fall in its headline earnings per share in the year to February, due to a voluntary settlement it made with SA’s competition authorities for anticompetitive behaviour. Mish-al Emeran comments. Continue Reading09 May 2017
Murray & Roberts will exit its Middle East operations after failing to sell them during its disposal of the infrastructure and building business. Mish-al Emeran.
Continue Reading12 May 2017
Umongo’s most recent annual turnover of R1bn was about 25% of Omnia’s chemicals business turnover, Humphris said. It is a growing business and has a net margin of about 8%. Mish-al Emeran comments. Continue Reading19 May 2017
Afrimat, an open-pit mining company supplying industrial minerals and construction materials, continues to shoot out the lights in its results for the year ended February 2017. Neil Brown comments.Continue Reading19 May 2017
Construction group Stefanutti Stocks should return to profitability in the next financial year, after one-off costs in the year to February put its earnings under pressure. Mish-al Emeran comments. Continue Reading23 May 2017
Poor hedges on maize and a stronger rand are among factors that impacted the interim results of SA food and beverage producer Pioneer Foods. Damon Buss comments.
Continue Reading25 May 2017
TFG is the latest retailer to enter the Australian market, announcing on Thursday that it would acquire menswear group, Retail Apparel Group (RAG), for up to R3bn. Damon Buss comments. Continue Reading01 June 2017
Tsogo Sun’s Marcel von Aulock is leaving the gaming and leisure group after 20 years. Von Aulock said he had achieved various goals in the business and he needed a break before starting another career. Speculation is, however, that he has suddenly resigned because of differences with Tsogo’s parent company, Hosken Consolidated Investments, over an acquisition. Damon Buss comments. Continue Reading06 June 2017
Telkom put in a “solid performance” in a tough operating environment, delivering a 56% higher dividend for shareholders in the year to March 2017. The share jumped 5.32% by the close of trade on Monday. Mish-al Emeran comments. Continue Reading08 June 2017
The insurers, including Santam Ltd., Old Mutual Plc’s Mutual & Federal and Rand Merchant Investment Holdings Ltd.’s OUTsurance unit, are already being battered by an economy that slipped into a recession in the first quarter, the country’s credit rating downgrade to junk status, continued political turmoil and unemployment at a 14-year high. Richard Hasson comments.Continue Reading12 June 2017
Results from apparel retailers in the past month have made it abundantly clear that South African household consumption is slowing down. Sales figures from Mr Price Group, Edcon and TFG show that shoppers are reluctant to spend in an economy frught with uncertainty. Damon Buss comments.Continue Reading14 June 2017
Consumer goods companies have been through the mill due to a slowdown in consumer spending, with interim earnings of 13 JSE-listed companies falling an average of 15%. Damon Buss comments.Continue Reading22 June 2017
The three largest locally listed hospital groups have all seen double-digit dives in their share prices in the past 12 months. While this is hurting now, analysts say it’s also a good time to stock up for the longer term. Neil Brown comments.Continue Reading