Steinhoff narrows its loss as it battles on

The retailer says this year’s sales are likely to be lower due to tough competition and after it sold off some businesses.

Peter Moyo hits back at Old Mutual

The group’s former CEO says it was represented at the board meeting where NMT resolved to pay a further dividend of R105 million.

Tough conditions apply the brakes to Motus

The automotive group says full-year revenue is likely to be flat, but earnings will increase.

MC Mining strikes off-take deal with AMSA

ArcelorMittal SA will replace imported hard coking coal with coal from MC Mining’s Makhado project once it’s up and running.

KAP flags weaker earnings

The industrial group says the costs for putting together last year’s empowerment deal will strip 7.3c from earnings per share.

Old Mutual sacks CEO over dividend payments

Recent corporate governance breakdowns in the private and public sectors highlighted the need for directors to be vigilant in managing conflicts of interest.

MultiChoice scores with World Cup viewers

The video entertainment business reduced losses from its Rest of Africa operations as it grew subscriber numbers by 17% to 7.7 million.

Brait’s losses swell after a tough year

The investment company says it’s taking steps to reduce the discount its shares trade at relative to its value.

Alex Forbes sweetens results with special div

The pension funds administrator says it doesn’t plan to hold excess cash on its balance sheet following a change in its strategy.

Schroder progresses with its Winning Cities strategy

The real estate investment trust says the cities it has property in are better placed than many to weather global economic and political risks.

Omnia’s litany of woes

On top of already tough economic conditions, the chemicals and fertilizer group has faced drought, impairments and currency issues in Zimbabwe.

Kore Potash raises funds for expansion

The potash exploration and development company says its Sintoukola project in Congo has the potential to become a preeminent production hub.

Etion warns of earnings decline

The company, previously called Ansys, says customers are spending less on projects due to the subdued economy.

Green light for Lighthouse to issue shares

The property investor says it will issue additional stock as and when investment opportunities arise.

The Week Ahead of 17 June 2019

The Fed will likely keep rates steady next week, but listen to the narrative very carefully. Crude oil prices spiked briefly on Thursday 13 June on...

Mining remains in the doldrums

Lower gold production led a decline in overall mining production in April, continuing the negative trend for the sector.

Novus adapts to new base

The printing and packaging group has had to adjust since Media24 renegotiated printing contracts on less favourable terms.

Zarclear benefits from revised strategy

The investment group narrowed the discount to value its shares trade at after building a new investment case.

Trustco recovery aided by once-offs

The Namibian investment company says its diversity also assisted growth in 2019 earnings.

Who’s doing what this week in the South African M&A space?

Weekly summary of M&A activity by South African companies

Who’s doing what in the African M&A space?

Weekly summary of all M&A activity from across Africa (excluding South Africa)

Pembury reverses course on retirement

The group says it decided to dispose of its remaining retirement villages following feedback from shareholders and potential funders.

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies

Thorts - The cost of not saying sorry

In this age of round-the-clock company scrutiny, almost as much focus is given to how a company handles a crisis as to the crisis itself.

Fake News

I have been getting really angry about how the South African press is being used by media-savvy operators with suspect motives to play on our fears....

BAT expects vaping growth to ignite sales

The world’s second-biggest cigarette maker says its New Category portfolio will report growth of between 30% and 50% this year.

Naspers talks Turkey in digital payments space

The consumer internet group believes there’s a big opportunity for its PayU subsidiary in Turkey as the government promotes digitisation of the economy.

Hope for 2nd quarter growth

After load shedding contributed to a fall in GDP in the first three months of the year, positive growth has started to emerge for the second...

Crookes Brothers gets a boost from nuts and bananas

The agricultural group says its 2019 results underscore the success of its diversification strategy.

Fake News

I have been getting really angry about how the South African press is being used by media-savvy operators with suspect motives to play on our fears....