30 August 2017

Cashbuild reports slowing growth as weak economy deters builders

The economic malaise in the country has finally hit the DIY sector, with Cashbuild following Massmart in reporting slowing sales growth from its building materials outlets.

Mondi delays investment due to paper market imbalance

Mondi is postponing its €135 million investment in a new 90 000 tonne per annum machine glazed speciality kraft paper machine at its Steti mill in...

Money lies revealed! Pressure grows on McKinsey over SA graft scandal

McKinsey has passed the buck for financial irregularities involving Gupta family entities to its employee Vikas Sagar, effectively suggesting he was a maverick who acted alone...

SA Corporate held back by rising residential vacancies

SA Corporate Real Estate says client retentions of 92% in its retail portfolio has been strong, boosting net property income by 19.7% in the six months...

Balwin expects to benefit from falling interest rates

Balwin Properties says demand for its apartments and developments remains strong, with pricing and sales volumes in line with last year. However, the property developer says...

Eskom take note: Solar plants already powering entire Northern Cape

Roger Lilley, of Energize magazine, lays out an erudite and data-based argument, showing us little-known alternative power sources already on the ground.

Advanced Health delivers a bitter pill as it invests for growth

Advanced Health has warned of widening losses as it invests in new facilities and bulks up its day hospitals.

29 August 2017

Bidvest squeezes out higher earnings despite weak economy

Bidvest says the benefits of a diversified portfolio of businesses were clear last year as it managed to keep its head above water, despite a lack...

Super Group looks to offshore growth as SA stagnates

Super Group is seeing the benefits of its geographic and sector diversification, helping it post higher earnings for the year to June despite pressure on the...

Koos Bekker to Naspers' shareholders: You're richer because of Tencent

At a shareholders' meeting on Friday, Naspers managed to beat off a bid to reject the company's pay policy by securing 79% of a vote to...

Adapt IT plans to continue finding bolt-on acquisitions

Shares in Adapt IT retraced some of this year’s heavy losses after the software group reported a 25% jump in 2017 turnover and a 10% rise...

Basil Read to focus on high-margin, profitable businesses as earnings slide

Basil Read has had a tough first half and the remainder of the year looks equally difficult as its roads and construction divisions continue to face...

Denel finally exits joint venture with Gupta-linked VR Laser Asia

South Africa's state-owned arms company Denel has exited a joint venture with VR Laser Asia, which has been linked to the Gupta family.

HomeChoice grows digital sales as credit regulations bite

Direct marketing and financial services business HomeChoice International says high unemployment coupled with persistent food inflation have put pressure on consumers...

28 August 2017

PPC sinks as AfriSam terminates Heads of Terms

The on-again, off-again merger of PPC and AfriSam could be off again, sending shares in PPC as much as 11% lower on Friday.

Adcock Ingram gives itself a clean bill of health

Adcock Ingram says a re-engineering of the group over the past three years has helped restore profitability and its reputation in the pharmaceutical, health and personal...

Public Protector: Accountability Now seeks investigation into Guptas' tax affairs

The Public Protector's office has confirmed receipt of a request to investigate the SA Revenue Service's conduct regarding the Gupta family's tax affairs.

Northam gets go-ahead for Amandebult deal as it grows production

Northam Platinum has received permission to buy a portion of Anglo American Platinum’s Amandebult mining right as it focuses on moving its production down the cost...

Net1 reports lower profit after paying off former CEO

Net1 has reported a fall in profits in a year when the technology group was in the spotlight over social grant payments and shareholders forced it...

MMI feels the effect of weak equity markets and currency volatility

MMI Holdings is the latest insurance group to warn of lower earnings due to weak equity markets and more customers allowing policies to lapse in a...

Wealth-building tips to generate a passive income - plus some traps

The ultimate goal of long-term investing is to generate a passive income that produces cash for you when you are too old to work.

25 August 2017

Steinhoff denies dirty play as share price falls

Steinhoff has hit back at accusations of wrongdoing after an article in German magazine Manager Magazin sent shares in the global retail giant as much as...

Woolworths hit by waning confidence in South Africa and Australia

Woolworths is finding out that geographical diversity is no guarantee of resilience, with weak consumer confidence in both markets it operates in affecting its performance over...

Massmart's prospects brighten on lower inflation and interest rates

Massmart has been keeping a tight lid on costs in what it describes as one of the most difficult trading periods in recent memory due to...

Exposed Bell Pottinger mole! Quits PRCA board ahead of secret probe outcome

Bell Pottinger chairman Kevin Read was on the board of the body investigating Bell Pottinger's activities behind closed doors until recently.

Rand strength holds back Bidcorp’s earnings

Bidcorp's maiden full-year results since it was spun off from Bidvest have been sullied by the rand’s recovery over the past year.

Blue Label grows profit as it waits for Cell C payoff

Blue Label Telecoms expects its acquisition of a 45% stake in the network operator for R5.5 billion earlier this month to be a game changer for...

24 August 2017

Steinhoff aims for September listing for Africa business

Steinhoff is proceeding with plans to list its African retail assets on the JSE by the end of next month, subject to stock exchange approval and...

Guptas start dumping assets, sell Tegeta to little known Swiss company

Oakbay is selling Tegeta to a little-known Swiss-based company for R2.97bn, potentially netting them a nice R870m in a relatively short space of time.

Grindrod mulls separate listing for shipping business

Grindrod says it is investigating a separate listing for its Shipping business, which it doesn’t believe is fairly reflected in the company’s share price...

Revealed! Super-rich Gupta brothers pay very little personal income tax

Atul Gupta is one of South Africa's richest men, yet he declares and pays tax on a very modest income that does not match his lifestyle.

Decent catch from freshly-listed Sea Harvest

Sea Harvest’s listing in March has helped it deleverage its balance sheet with the funds raised through the flotation. Combined with an improved fleet, strong demand...

Brimstone held back by falling valuation

Brimstone’s had a weak first half, with its Sea Harvest subsidiary providing one of the only bright spots. Lion of Africa Insurance Company and House of...

Right of reply: Bell Pottinger threatens BizNews over Hitler video story

Bell Pottinger has hit back at BizNews after we published a story that revealed new information and questions about the company's digital unit 'Engage'.

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