Mpact enters plastic recycling sector with R350m PET plant – Business Report
Mpact was venturing into plastic recycling with plans to build a plant for R350 million in partnership with the Industrial Development Corporation (IDC), the listed packaging group announced yesterday. The plastic recycling plant will process about 29 000 tons of polyethylene terephthalate (PET) bottles a year, generating 21 000 tons of new raw material directly […]
Productivity gains lift Mpact – Business Day
Packaging manufacturer, Mpact, lifted its basic underlying earnings per share 19.2% in the first half to June, saying that the creditable achievement was in the face of considerable economic headwinds. The group attributed this mainly to a favourable sales mix and improved productivity relating to capital expenditure over the past four years. Dirk van Vlaanderen comments […]
Cost review – Financial Mail
MTN SA aims to return to the 34% – 35% operational margin range in the full year to December following a dismal performance in the interim period to June. The performance targets may result in the implementation of a cost reduction programme that could result in retrenchments. MTN has been under pressure for some time […]
MTN eyes data in new turf war – Sunday Times Business Times
Africa’s largest cellular company, MTN, which reported a 9% rise in half-year profits this week and now has 215 million subscribers across the world, has a plan to boost flagging revenue in South Africa. CEO Sifiso Dabengwa said this week that MTN intended to expand its fibre network to the homes of its wealthier South Africa […]
Mondi builds on record financial performance – Business Day
Mondi says it has seen a steady improvement in all key financial metrics in the six months to June, building on a record performance for the full year to December. Underlying operating profit of €377m in the interim period was up 3%, underlying earnings per share rose 5%, and cash generated by operations was up […]
Abil’s need for R8.5bn alarms big investors – Business Day
African Bank Investments’ (Abil’s) shock announcement on Wednesday that it wants to raise at least another R8.5bn to keep the beleaguered business going has spooked major shareholders, and raised questions about its future. Gavin Wood comments in this article. view article
Nedbank battens down debt hatches – Business Day
Nedbank is battening down the hatches with increased portfolio provisioning in case the recent mining and metal workers’ strikes and difficult economic conditions lead to more bad debt among embattled consumers. Jihad Jhaveri comments on the company’s interim results. view article
Investors worry about Sappi's $23bn debt – Business Day
Sappi’s share price fell 5.37% to R40.69 yesterday despite the pulp and paper products group indicating it was on track to report a profitable 2014 financial year, as lingering debt worried the market. The group has made $67m profit in the first three quarters of its 2014 financial year, from a $161m loss last year. In […]
PMI contracts for fourth consecutive month on strikes – Engineering News
The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) has contracted for the fourth consecutive month, signalling the manufacturing sector’s continued subpar performance. However, while the protracted strikes in the platinum mining, steel and engineering sectors had weighed on manufacturing output over the past few months, the industry was expected to recover in the second half […]
