Vodacom’s earnings decline for a ‘year of rebasing’ – Moneyweb
Vodacom Group Limited announced its financial results for the year ending March 31 2015, with Group headline earnings per share tumbling by 4% to 860 cents. The mobile network operator called the period ‘a year of rebasing’ amidst pressure on SA consumer spending, intensifying competition and a ‘challenging macro environment’. Aslam Dalvi comments. view article
Profit shoots up 75% and Sappi makes strides in cutting back debt – Business Day
Sappi’s profit for the second quarter shot up 75% from the same period last year to $56m. This was even as total sales fell 15% to $1.34bn. A one-off pension fund gain in Europe boosted operating earnings of the pulp, paper and chemical cellulose maker, with special items providing gains of $68m, up from $4m […]
Metair's great big hairy, audacious goals – Moneyweb
The world’s vehicle manufacturers are racing to meet tightening emissions legislation. They are investing heavily in technology to achieve increased fuel economy and lower vehicle emissions through innovations such as engine downsizing, turbocharging and weight reduction. They are also looking at start-stop engine management systems as a cost effective solution. JSE-listed Metair is one of a handful […]
Sappi: Positive signs but not everyone is convinced – Finweek
Steve Binnie, at the helm of Sappi for the past 10 months, has had a tough shift. The papermaker’s fortunes abroad, where Sappi derives 75% of its sales, are waning due to falling demand and subdued prices for paper. Added to this is a net debt of US$2bn (R24bn), due in part to the US$1.1bn […]
Market happy with BAT's slow burn – Business Day
The local market seemed reassured by yesterday’s quarterly management statement from cigarette giant British American Tobacco (BAT) in spite of a further drop in volumes, with the share falling 0.7% to R656.60. BAT’s business model is built on being able to counter dwindling cigarette volumes with pricing power — especially in its Global Drive Brands […]
SP corporate credit rating cut to add to Anglo's troubles – Business Report
Ratings agency Standard & Poor’s (S&P) yesterday slashed its assessment of Anglo American’s ability to repay its debt because of the sharp drop in iron ore prices. In a statement yesterday, S&P said it had lowered the corporate credit ratings on the company to BBB-/A-3 from BBB/A-2 and the South Africa national scale rating to […]
Advtech U-turn on Maravest deal – Business Day
Private education group Advtech has compromised on the funding structure of its proposed acquisition of small rival Maravest after two of its biggest shareholders registered opposition last week. On Friday, Advtech issued a Stock Exchange News Service statement detailing a revised transaction that would see the R450m deal settled with a combination of cash and […]
Big investors oppose Advtech deal – Business Day
Private education group Advtech looks set for a showdown with its two biggest institutional shareholders over the funding structure for a proposed R450m acquisition of smaller rival Maravest. On Tuesday, Coronation Fund Managers and Kagiso Asset Management — which collectively have a 40% stake — confirmed they were likely to vote against the Maravest transaction. The […]
Can deliver, needs variety – Investors Monthly
Having laid a solid foundation, dairy producer Clover Industries now wants to scale up and improve earnings through the development of new products, acquisitions and expansion into the rest of Africa. The group is exploring entry into the baby food market, taking advantage of the trust it’s earned over decades as a milk producer. Soft drinks […]
Is Naspers now the most important share on the JSE? – Moneyweb
When the JSE began trading on Monday morning, Naspers opened at R2 001.50 per share. This was the counter’s first foray above R2 000, a price that is just below 88% higher than where it opened on April 14 last year. It closed trade at R1 980 a share. Going back two years, the surge in the […]