AngloGold lifts force majeure on Obuasi mines – Moneyweb
AngloGold Ashanti lifted force majeure on its Ghanaian Obuasi mine after the removal of thousands of illegal miners but said it was too early to determine the extent of damage to the loss-making, mothballed operation. The move is significant for AngloGold, which has said it could sell or redevelop the mine. It also cheered investors […]
Investment drive rewards Mondi – Business Day
Mondi saw another solid performance for the year ended December 2016, pushing underlying operating profit up 3% to €981 million. Cash generated from operations of €1.4 million rose 10%. This reflected the international packaging and paper group’s €800m pipeline of expansionary capital investment. Completed major projects contributed €50m to underlying operating profit in 2016. Dirk […]
Adcock shares on up and up – Business Day
Adcock Ingram’s result for the six months to end-December revealed that the company became debt-free for the first time since 2011. The share had jumped 3.36% in midday trade as headline earnings per share shot up 49%. Turnover rose 11% to R3 billion as gross profit increased 11% to R1.1bn. The group declared a dividend […]
Imperial 'on track' with profit – Business Day
Imperial Holdings says it is still on the road to doubling core profit from its rest-of-Africa businesses, but that it is taking longer than expected. Abdul Davids comments. view article
Woolworths banks on cosmetics as profits dip – Moneyweb
South African retailer Woolworths Holdings aims to double its market share in beauty products in its home market over the next three years. Simon Anderssen comments. view article
Amplats works towards dividend – Business Day
Amplats swung out of a deep loss in 2015, when financials were skewed by hefty one-off items, into profit in 2016 as it benefited from positive cash flows from all its mines for the second year running after three years of restructuring, asset sales and containing costs. Abdul Davids comments. view article
Clover warns of sluggish festive season trade – Business Day
Clover’s December 2016 trading volumes were markedly lower than for December 2015. Headline earnings per share for the six months ended December 2016 were expected to be between 15.7% and 25.7% lower than the 116.96c recorded in the period a year earlier. Dirk van Vlaanderen comments. view article
Mr Price posts drop in Q3 sales – Moneyweb
Mr Price, which in November posted its first profit drop in 15 years, reported total retail sales of 6.1 billion rand (US$452 million) for the three months to end-December, 0.5% lower than the corresponding period in 2015. Simon Anderssen comments. view article
Not even Christmas could save SA retailers – Moneyweb
Although the grim trading updates from market darling Woolworths and fashion retailer Truworths were expected, they underscore how troubled SA’s retail market is. Simon Anderssen comments. view article
One-off costs hurt Omnia – Business Day
Drought, the mining commodities rout, the election of Donald Trump and Brexit have all conspired to keep the world economy volatile in the first half of its financial year, says diversified global chemicals group Omnia. This has led to profit for the six months to September plunging 22.1% to R258m and headline earnings per share […]
