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 […]
Tsogo Sun hikes payout – Bdlive
Gaming and hotels group Tsogo Sun, which is controlled by empowerment conglomerate Hosken Consolidated Investments (HCI), hiked its interim dividend 10% to 34c per share despite adjusted headline earnings for the six months to end-September being static at 88c per share. Dirk van Vlaanderen comments. view article
High-spirited Spar has a big year – Business Day
Spar Group has reported a 12% surge in full year operating profit, largely defying the malaise in the local retail sector and the Brexit -inspired dip in Europe’s consumer confidence. Simon Anderssen comments. view article
Leaner Telkom to pay first interim dividend – Bdlive
Telkom surprised the market with a maiden interim dividend, which sent the share price up 5.33%. The group also revised its dividend policy that will now see it pay 60% of headline earnings as annual dividends following a strong performance. Aslam Dalvi comments. view article
Huge profit for Tongaat Hulett – Business Day
Tongaat Hulett saw sugar production roar back to life in its interim results for the six months ended September, despite the recent drought across southern Africa. Dirk van Vlaanderen comments. view article
Mediclinic is ailing in Middle East – Moneyweb
Mediclinic International’s global acquisition spree is costing the private hospital group as it is starting to feel the pinch – mainly in the Middle East. Aslam Dalvi comments. view article
Pan-African outlook pays off for CIG – Bdlive
Consolidated Infrastructure Group (CIG) posted double-digit growth in the year to August, with revenue shooting up 26% to R4.5bn and headline earnings per share jumping 16%. The recent R850m buyout of electricity and smart meter provider Conlog is expected to further diversify revenue in future. Meyrick Barker comments. view article