Mr Price shares leap after strong interim results – Business Day

Mr Price’s share price rose as much as 5.3% after the clothing retailer delivered a 23.6% jump in interim diluted headline earnings per share to 434.1c. Total revenue rose 6.7% to R9.8bn for the 20 weeks to September 2017. The group declared an interim dividend of 279c a share, up 22.3%. Simon Anderssen comments. view article

Tongaat Hulett gets boost from sugar – Business Day

Tongaat Hulett pushed up operating profit and headline earnings for the six months to September 2017 as revenue fell 4.5% during the period. Headline earnings of R661m were 4.8% better than the R631m reported in the six months to September 2016. Meanwhile, operating cash flow before working capital came to R2.447bn, rising from R2.317bn in […]

Steinhoff's Africa listing makes sense – Moneyweb

Freshly unbundled from Steinhoff, JSE-listed Star is a sizeable company with 4808 stores across sub Saharan Africa, revenues over six months of R29.2 billion and earnings of R3 billion. By way of comparison, South Africa’s biggest retailer, Shoprite turned over R71.3 billion and earned R3.7 billion before interest and tax in its last six month […]

Clover battles rising costs in 'new reality' – Business Day

Prolonged drought, a subsequent wetter and cooler summer, and rand volatility resulted in above-inflation input costs and subdued volume growth amid poor consumer spending. Clover CEO Johann Vorster mentions aggressive competitor pricing and market positioning in the fight to optimally sustain business in a constrained “new reality”. Food producers now cannot just pass costs on […]

Restructure gives Adcock profit a boost – Business Day

Pharmaceutical group Adcock Ingram has managed to turn its rest of Africa operations profitable, contributing to a tripling of after-tax profit in the year to end-June. The group grew overall revenue by 7% to R5.96 billion and after-tax profit was up 213% to R561 million in the year to end-June. Aslam Dalvi comments. view article

Bidcorp off to a blistering start – Business Day

Bidcorp’s maiden full-year results show the company got off to a blistering start as a JSE-listed entity. The company, which was spun out of Bidvest in May 2016, reported a near double-digit rise in earnings despite difficult trading conditions in some key operations.  Dirk van Vlaanderen comments. view article

Massmart sticks to expansion strategy – Business Day

Massmart says it has not given up on Africa and will continue to invest in its business on the continent. CEO Guy Hayward said that despite the challenges faced by most African economies, there were signs the tide could yet change for the better. In the period under review, Massmart’s total sales were R42.5 billion, […]

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