Clover drops after earnings warning – Business Day

Investors skimmed 7% off Clover’s share price in intraday trade on 29 May after the dairy products group said that it expected to report a drop of as much as 65% in full-year headline earnings. Clover said that the drought and currency fluctuations had resulted in above-inflation input costs, which it had been unable to […]

Regulatory hurdles put Mediclinic on watch- Moneyweb

Middle East regulatory issues led to a disappointing performance in private healthcare group Mediclinic’s annual results. The Middle East saw revenue grow 72% to $846.4 million for the year ended March 31. Aslam Dalvi comments. view article

Imperial looking to expand an empire – Financial Mail

Logistics and vehicle group Imperial Holdings is driving hard towards doubling profit from its rest-of-Africa operations. It is seeking to rely less on a shaky SA trading environment, where 59% of group revenue and 64% of operating profit were generated in the interim period to December 2016. Meyrick Barker comments. view article

Astral Foods sees pain from new brine regulations – Moneyweb

South Africa’s largest poultry producer, Astral Foods, saw poultry sales volumes decline by 10.5% for the six months to March 31. Its group operating profit declined by 50.6% to R212 million on the back of a flat 0.5% revenue growth to R5.7 billion. Dirk van Vlaanderen comments. view article

Umongo fills gap in Omnia's range – Business Day

Omnia is buying 90% of Umongo Petroleum for R780m, adding new product lines and geographies to expand the diversified chemicals group. The deal, which still has to be given the green light by SA’s competition authorities, will add 6% to Omnia’s overall annual turnover of about R16 billion. Aslam Dalvi comments. view article

Market punishes Pioneer Foods – Business Day

In the six months to end March 2017, Pioneer Foods reported a 47% drop in first-half adjusted headline earnings to R470m. Adjusted operating profit declined from 12% to 7%. Dirk van Vlaanderen comments. view article

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