Sasol lowers synfuels sales forecast in update – Business Day
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. Abdul Davids comments. view article
A breath of fresh air for Mediclinic – Moneyweb
Mediclinic’s share price has fallen 36% in just over year, with the healthcare group facing regulatory headwinds which has constrained earnings and profits in some of its most lucrative and fastest growing markets. A recent Zurich regulatory ruling has offers positive news for the Swiss market outlook. Aslam Dalvi comments. view article
Below-forecast earnings erode Pick n Pay shares – Business Day
While local food retailers have seen a general decline in their share prices in the past month, Pick n Pay has been the hardest hit. Its share price has retreated just more than 13% in April, with most of the movement sparked by the release of the company’s 2017 annual results. Simon Anderssen comments. view […]
No dividend payout by Sun International – Business Day
Gaming giant Sun International released results which that the group, which has changed its financial year-end to December, finished the six months to end December 2016 with borrowings of R14.5 billion. This was R455 million more than at the end of June 2016. Dirk van Vlaanderen comments. view article
Barclays Africa debt sale misses target – Moneyweb
Barclays Africa Group sold less than half its target in a bond auction as a wall of debt issuance by South African banks and the impending exit of its UK parent, Barclays Plc, damped demand. Gavin Wood comments. view article
Emerging market growth lifts Sanlam – Business Day
Insurance group Sanlam outperformed peers in a tough domestic economy, posting double-digit earnings growth in its businesses both inside and outside SA, its 2016 financial results showed. Justin Floor comments. view article
AECI weathers headwinds and drought – Business Day
Chemicals and explosives group AECI saw profits in the year to December 2016 hit by negligible growth in South African manufacturing and drought in the regional agriculture sector. Aslam Dalvi comments. view article
Severe drought bites Clover – Moneyweb
It has been a testing time for Clover Industries, with the dairy products producer attempting to fend off the pain from severe drought conditions and consumers that are battling to afford rising food prices. So tough has the operating environment been for Clover that it increased the price of its dairy products by 10.6% to […]
'Relief rally' boosts Discovery – Business Day
Delivering the Discovery Group’s results for the six months to December 2016, CEO Adrian Gore said the group had more than R1 billion to fund new business growth. Spend on new initiatives fell 36% to R244 million, accounting for 7% of operating profit, which rose 13% to R3.4 billion. Justin Floor comments. view article
Liberty puts on a brave face – Business Day
For the year to December 2016, Liberty’s normalised headline earnings fell 38.8% from the prior period to R2.5 billion, reflecting a 37% drop in operating earnings and a 42% decline in earnings from the shareholder investment portfolio. Justin Floor comments. view article
