Shopping mall owners warn about Covid-19 fallout

Restricted trading in several European countries will place pressure on tenants and rentals as governments try to contain the coronavirus.

Old Mutual warns of growing risks

The insurance giant says it is likely to miss its targets this year due to market disruptions and weaker growth.

Ninety One lists in volatile market

Investec decided against a global offer of its shares due to current market volatility.

Ingham Analytics issues an Equity and Credit Markets Insight note. The note is titled “In the darkness of tumult a possible chink of light”.

Ingham Analytics say that such is the immediacy and savagery of the international equities sell-off that even if you wanted to liquidate to cash in an...

Omnia hit by cyberattack

The group says its production facilities and operations were unaffected after it restricted access to its IT infrastructure.

Bell Equipment warns of earnings slump

The group blames weaker demand, particularly in its home market, and a rising interest bill due to higher inventory levels.

Taste liquidates Domino’s after failing to find a buyer

The investment group says a deal could not be concluded on acceptable terms and further financial support was not forthcoming.

Peregrine rallies on private equity offer

Capitalworks is offering shareholders R21 per share to take the company private, with the option of retaining unlisted stock.

Telkom hit by retrenchment costs

The first phase of a restructuring process will result in costs of about R1.5 billion, which will affect earnings this year.

AfroCentric boosted by acquisitions

The Medscheme owner says its growing trading businesses contributed to a strong rise in first-half operating profit.

MC Mining’s losses widen on weaker coal prices

The coal producer says it has made good progress with the Makhado coal project as it targets the premium hard coking coal market.

Indluplace reduces vacancies in tough environment

The real estate investment trust says occupancy numbers are satisfactory but it is unable to push through big rent increases due to the weak economy.

The Week Ahead with Chris Gilmour 16 March 2020

Expect another volatile week on global financial markets

Sasol caught up in market turmoil

The group is confident its foundation business is capable of generating positive cash flow from operations in a low oil price environment.

intu warns it could go bust

The shopping centre owner has blamed a massive write-down in the value of its portfolio for a loss last year.

Investec scraps Ninety One stock sale

The financial services group decided against selling a stake in Ninety One to new investors due to the current market turmoil.

Sanlam buffeted by headwinds

The insurance group says its operational performance was strong last year, while earnings declined due to one-off costs.

Exxaro reducing coal exposure

The diversified resources group plans to include more renewable energy in its portfolio as part of its response to climate change.

MTN boosted by operations outside SA

The network operator also says CEO Rob Shuter will step down when his four-year contract expires next year.

Absa banks on Africa regions as local growth dwindles

The banking group has grown full-year earnings thanks to stronger performances from its operations outside the country.

Growthpoint warns of flat 2020 dividend

The real estate investment trust says growth in its annual dividend will be nominal at best.

Ascendis battens down the hatches

The pharmaceuticals group plans to slash costs and sell more businesses as it restructures its balance sheet and reduces debt.

Pepkor warns of COVID-19 stock shortage

The effect of the coronavirus has not been significant so far but the retail group says it could affect stock availability later this year.

Quilter plans odd-lot offer

The wealth manager says it will halve its shareholder base, including many Old Mutual policyholders who received shares during its unbundling.

FirstRand warns of weaker growth

The banking group says it is not immune to the serious macroeconomic challenges facing the country, which it is affecting all customer segments.

Vodacom reaches social pact with CompCom

The network operator will slash the price of data bundles and provide some free services after the Competition Commission weighed in.

Texton trims debt in challenging environment

The real estate investment trust has faced headwinds in SA and the UK and expects its operating environment to remain challenging for now.

Transaction Capital maintains momentum

The financial services group says its taxi finance and debt collection services businesses have remained highly defensive in a tough market.

Brimstone opts for capitalisation to conserve cash

The group plans to issue additional N shares to investors as it holds onto its cash to reduce debt and make investments.