Anglo American results dismay – Business Report
Global diversified mining group Anglo American tumbled as much as 8.26 percent on the JSE yesterday before recovering following news that production across most commodities had declined in the March quarter, as well as criticism of its chief executive’s salary. Abdul Davids comments. view article
Bidvest names its new food spin off – Business Day
Bidvest intends calling its new food-service business, which is to be listed at the start of business on May 30, Bidcorp. In a circular posted to share-holders, it said that the name required the approval of at least 75% of shareholders at a general meeting. This would be held in Johannesburg around May 16. The […]
Clover: more defensive, less cyclical – Moneyweb
In ten years, Clover has transformed from a sleepy dairy business into a competitive branded business that is more defensive and less cyclical than most investors realise. While investors are still coming to grips with the fact that margins were not severely affected by the drought or last year’s milk surplus, it is about to […]
Menlyn: the best hand for Sun – Business Day
Gaming and hotel group Sun International is likely to abandon its takeover bid for rival Peermont, but executives are hoping a new casino development at Menlyn Maine could significantly strengthen its hand in financial 2017. Dirk van Vlaanderen comments. view article
Sun International: building up a hand – Fin Mail
Sun International’s likely abandoning of the Peermont Global acquisition and the transfer of an existing casino licence to the vibrant Menlyn Maine have lately overshadowed the gaming giant’s efforts to build a niche in Latin America. Dirk van Vlaanderen comments. view article
Anglo in dramatic portfolio shake-up – IOL
Diversified mining giant Anglo American has announced a dramatic shake-up of its portfolio after envisioning the disposal of $6 billion (R94.76 billion) of non-core assets by the end of the year and the unbundling of Kumba Iron Ore in 2017. Abdul Davids comments view article
ARM forks out to keep B-BBEE status – Business Day
Rainbow Minerals (ARM), in which mining entrepreneur Patrice Motsepe is the biggest shareholder, is putting a R1.9 billion bail-out in place to preserve its broad-based black economic empowerment (B-BBEE) status as volatile markets have rocked its share price. Over the course of last year ARM’s share price fell from about R119 to R40, although it […]
Sanlam's results see share fall 6% – BDlive
Sanlam said it had R2.3 billion in discretionary capital to invest in growth initiatives, and had an opportunity to raise more capital if there was a need. CEO Ian Kirk said the insurer had not raised capital for some time and the company had explored some options on how it would raise capital, if needed. Justin […]
Anglo Platinum: mixed responses – Financial Mail
Without the burden of one-off restructuring costs and write-downs, Anglo American Platinum’s headline earnings would have increased by about 37% for the past year to December, when compared with 2014. Including the costs of adapting to a weak platinum price, its headline earnings will instead drop by about 90%. The comparison with 2014 looks good only […]
Nene sacking an ironic fillip for SA's gold sector – Business Day
Jacob Zuma is causing turmoil in financial markets and unwittingly throwing a lifeline to his country’s struggling gold industry. Mr Zuma’s decision to fire respected finance minister Nhlanhla Nene drove the rand to a record low, instantly reducing labour and other costs in the local currency for mining companies, relative to the US dollars they […]