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 […]
December PMI inches lower, but remains above neutral 50-point mark – Engineering News
Despite declining by 3.3 index points in December, the seasonally adjusted Kagiso Purchasing Managers Index (PMI) ended the year marginally above the neutral 50-point mark, at 50.2. During the second and third quarters of 2014, the PMI languished below 50, but the average reading for the fourth quarter came in at 51.2 index points compared […]
Led by the dollar gold price – Financial Mail
Harmony Gold Mining’s decision to scale back, though not abandon, its Golpu project in Papua New Guinea is typical of the capital expenditure cuts being forced upon the gold industry by a period of prolonged low prices. Harmony and its partner in Golpu, Newcrest Mining, are looking beyond current gold prices, and investors have responded […]
Media moguls' brave new world – Business Times
Gavin Wood comments on the Blackstar/Times Media Group transaction, emphasising that it is transformative for Times Media and is being led by highly-rated people. view article
'n Portefeulje vir 2015 – Beeld
Abdul Davids is quoted on Metair in this article which highlights certain stocks to watch in 2015. view article
Abil legislative push concerns investors – Moneyweb
Investors in South African banks are growing increasingly concerned over proposed legislation stripping them of some rights as creditors, fallout from the August collapse of African Bank Investments Ltd. The Banks Amendment Bill would give the administrator of a failed lender the right to sell assets and change capital structures without consulting investors, according to […]
Sappi in pilot project to make low-cost 'wonder material' – Business Day
Sappi and Edinburgh Napier University have developed a lower-cost, commercially viable way to make potential “wonder material” nanocellulose. The parties say nanocellulose has the potential to be used in a wide range of applications — from packaging and touchscreen displays, to car panels and wound care — with the potential demand for 35-million tonnes a […]
Tiger learns from mistakes in Nigeria – Business Day
Tiger Brands has not been put off buying businesses of scale and its rest-of-Africa strategy has been unaffected by its bad experience in Nigeria, CEO Peter Matlare says. Tiger’s acquisition of Dangote Flour Mills (DFM) in Nigeria two years ago for a “full price” has proved a major drag on the group’s earnings, with impairments […]
Sasol bond showing strain of plunge in oil – Moneyweb
The price of brent crude oil has dropped 38% since the end of June to a five-year low this month. Sasol Ltd.’s bonds are signaling investor concern that debt levels of the world’s biggest maker of motor fuel-from-coal are coming under pressure amid a 38% plunge in oil this year. Abdul Davids comments. view article
SABMiller keeps climbing despite weaker results – Moneyweb
SABMiller announced weaker than expected interim results, with revenue growing by just 2% and organic constant currency operating profit rising by 3% from the comparable period last year. Group adjusted earnings per share came in at 123.6 US cents per share, up from 120.4 US cents per share last year. Dirk van Vlaanderen comments on the […]