NEWS ARCHIVES


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'.




23 August 2017

Shoprite bucks the recession as it gains market share

Shoprite says it’s gained market share over the past year, with 31.9% of the South African market. It credits below average price inflation and subsidising of...

BHP Billiton eyes a shale sale as it benefits from higher commodity prices

BHP Billiton has benefited from a recovery in commodity prices, cutting debt and lifting its dividend 177% for the year to end June...

Allan Gray is dead wrong - Naspers CEO earns his salary, and then some

Bob Van Dijk engineered the Naspers investment into Frankfurt listed Delivery Hero, generating a rapidfire R1.5bn profit for the group. He, too, is behind the hugely...

Restructured Imperial confident it can weather the economic storm

Imperial Holdings has reported record revenue and operating profit for its 2017 financial year. However, growth was muted, with revenue up just 1%, while operating profit...

Dummies' guide to Bitcoin: readers' burning questions answered

We've received a number of questions on Bitcoin and Ethereum from readers and we've decided to answer some of those queries in this 'dummies guide'.

Group Five swings into a loss vindicating shareholder action

Group Five has had a torrid year, marred by the departure of key executives and a boardroom shake-up engineered by its shareholders. It’s now reported a...

Voluntary offshore disclosures: Final SARS deadline fast approaches

The window period for taxpayers to disclose their offshore assets and income to the South African Revenue Service (SARS) as part of its special voluntary disclosure...

Merged property group predicts strong distribution growth

Newly-merged property giant NEPI Rockcastle expects distributable earnings per share for its 2017 year to be about 17% higher than last year’s pro forma distribution of...




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