Bidvest shifts focus – Moneyweb
After successfully unbundling its food services business and listing it as Bid Corporation (Bidcorp) on the JSE, industrial conglomerate Bidvest Group is gunning for bolt-on acquisitions and further expansion into international markets. Dirk van Vlaanderen comments. view article
Woolies to cut food prices in tight year – Business Day
Upmarket food and clothing retailer Woolworths will focus on bringing its prices down in certain categories after it forecast another hellish year for consumers. While the company targets high-end consumers, even they are feeling the effects of a weaker rand and high interest rates. Simon Anderssen comments. view article
Sun International: risks and opportunities – Moneyweb
Sun International is two thirds of the way through a gigantic programme of global expansion, corporate renewal and portfolio streamlining. Positive results seem just around the corner, but a plethora of risks facing the business may cause further bumpiness along the road. Dirk van Vlaanderen comments. view article
Metair lifts revenue but Toyota launch hits profit – Bdlive
Metair, the battery and automotive component maker, grew revenue 13.7% to R4 billion for the six months to June, but the costs of supporting a new model launch by dominant customer Toyota halved profits in the period. Simon Anderssen comments. view article
Standard Bank's mortgage strategy pays off – Business Day
Although it saw a 16% rise in credit impairments for the six months to June, Standard Bank has not burnt its fingers on home loans, unlike rivals that reported results recently. Meyrick Barker comments. view article
Mpact: a mixed bag – Financial Mail
Mpact, the diversified JSE-listed packaging maker that was spun out of Mondi five years ago, posted mixed results in the six months to June. This came as a couple of dismal trading updates in past months spooked the market. Dirk van Vlaanderen comments. view article
Massmart slips back despite strong forecast – Bdlive
Massmart’s share price was hit by profit-taking after the retailer released an interim trading statement, in which it said earnings were expected to grow strongly despite a marked slowdown in the local economy. Dirk van Vlaanderen comments. view article
Old Mutual profit takes first dive in five year – Business Day
Old Mutual’s first half profits declined for the first time in five years, burned by significant once off items. Rand weakness relative to the first half of 2015 hurt profits but, even on a constant currency basis, pretax adjusted operating profits fell 9% to £708m for the six months to June. Justin Floor comments. view […]
Core units lift AECI as profit plunges – Business Day
Chemicals and explosives company AECI has reported a 42 percent decline in operating profit to R571 million for the six months to end June, which was dominated by a constrained environment in South Africa and abroad. Aslam Dalvi comments. view article
Strong operations in Africa lift Shoprite results – Business Day
Shoprite’s stronghold in West Africa helped the domestic retailer report better-than-expected results in July, but the company has yet to successfully branch out in East Africa. Simon Anderssen comments. view article