Sun International may look to the East – Business Day
Gaming and leisure group Sun International could turn its attention to Asia after proposals to consolidate its Latin American units into a bigger entity. In its half-year to end-December results, the group said all key properties (barring Sun City) showed increased profits after cost cuts last year. Recently Sun International announced a merger of its Latin American […]
Aveng earnings fall as revenues drop – Business Day
Aveng saw revenues fall 14% as net operating earnings dropped 19% and headline earnings a share plunged 58% in the six months to December. Along with many of its JSElisted peers the construction and engineering group is feeling pressure from a decline in mining investment and the poor rollout of government infrastructure in SA. Rubin […]
Clover holds lots of promise – Business Day
Clover Industries could boost its operating profits by about a third if it reaches a medium-term target to have 15% market share in custard and yoghurt. Dirk van Vlaanderen discusses our investment case for Clover. view article
China’s boom and boon for SA workers – Business Times
In December 2011, more than 6 000 workers at South African company, Kumba Iron Ore each received a pay-out of R576 045. They were being rewarded for the good fortune of being employed by a company that supplied commodities to the booming Chinese market. Gavin Wood comments on growth in China and the country’s role in […]
Craft beer: Still in its infancy – Finweek
In South Africa, more than 50 microbreweries have found an opportunity in the shadow of market leader South African Breweries (SAB) to cater for a new market of beer drinkers, but compared to international counterparts, SA’s craft beer industry is still relatively untapped. Dirk van Vlaanderen comments. view article
Sasol decides to delay plant to investor fanfare – Business Report
Investors yesterday cheered Sasol’s decision to delay development of its $14 billion (R1611n) gas-to-liquids (GTL) plant in Louisiana in the US amid the falling oil price, which has declined over 50 percent in the last six months. The announcement caused Sasol’s shares to gain as much as 2.7 percent to R427.54. However, Sasol’s share closed […]
China weather dents SABMiller quarterly beer sales – Business Day
SABMiller’s weather-related woes in China spilled over into the brewer’s third quarter ended December, the company said yesterday in a trading update that showed its total beer volumes are on track to shrink in its 2015 financial year. SABMiller’s lager volumes were 1% lower in its third quarter after a similar contraction in the first […]
Tighter belts are in – Financial Mail
SA retailers will have to continue battling it out on price for most of this year as consumers remain under pressure from high debt levels and lower disposable income. The decline in oil prices is expected to boost consumer confidence, but analysts caution that growth in employment and wages will remain subdued. Furthermore, the scheduled […]
Tough year ahead for SA retailers, warn experts – Business Report
Food retailers have started the year on a solid footing with good trading results for the festive season. However, they would have to work hard to raise their game in the new year as consumers would find themselves in more financial trouble than the previous year, according to equity analysts. Dirk van Vlaanderen comments on Massmart. […]
Australian deal props up Woolworths sales – Business Day
Woolworths’ food and clothing sales grew at a slower pace on a like-for-like stores basis in the 26 weeks to December 28 compared with a year ago, the company’s trading update released on Thursday shows. But thanks to its R23.3bn takeover of Australian department chain David Jones (DJs), Woolworths’ sales rose 55.2% in the first […]