13 March 2019

Group Five suspended as taps run dry

The construction and infrastructure group says shareholders have little chance of realising any value as it joins Basil Read and Esor in business rescue

FNB lifts FirstRand in challenging year

The banking group’s first-half performance was also supported by a solid contribution from newly-acquired UK lender Aldermore.

Quilter rallies on full-year profit growth

The MedScheme owner has maintained its programme of expansion as it prepares for new public sector contracts.

AfroCentric gears up for new contracts

AfroCentric has reported subdued first-half profit growth as it invests in new businesses across the healthcare value chain.

Stenprop boosts UK industrial portfolio

The industrial property company has increased its multi-let industrial portfolio to more than £250 million with the addition of Gainsborough Trading Estate.

Mid Cap Darlings – Curro Holdings Limited

There is plenty of evidence that the Mid Cap stocks outperform the large caps over the long term. During times of uncertainty and low economic growth,...

Global Asset Management to delist

The AltX-listed company has launched a scheme of arrangement, alongside a mandatory offer from large shareholder ARC.

Metrofile warns of lower profit as CFO resigns

The documents storage business says first-half HEPS will be up to 39% lower.

12 March 2019

Absa grows earnings after ‘unprecedented’ year

The banking group’s results for 2018 are still impacted by its separation from former parent Barclays Plc.

Old Mutual delivers on most commitments

The group missed its main profit target due to volatile markets and the weak SA economy as it announced R2 billion in share buybacks.

AVI hobbled by weak shoe sales

The consumer goods group’s first-half results were impacted by poor sales at Spits and restructuring at Green Cross.

Eskom adds to Famous Brands’ troubles

The restaurant group says inconsistent power supply has further worsened consumer sentiment and negatively impacted its operations.

Merafe highlights Eskom risk

While geopolitical uncertainty dented ferrochrome prices last year, the company says Eskom remains a key risk factor in 2019.

Sea Harvest buoyed by Viking deal

The acquisition has offset flat revenue in the fishing group’s home market and lower revenue from Australia.

Mixed performance from Brimstone’s investments

The investment holding company has reported lower profit due to the downward revaluation of some listed investments and losses at Lion of Africa.

RMI raises dividend despite lower earnings

A spike in mortality claims at Discovery and a normalisation of claims at OUTsurance resulted in an 8% decline in earnings.

11 March 2019

Sentiment sours towards Tongaat Hulett

In the latest problem to beset the sugar producer, it says it may have to review financial statements from previous financial years.

MMI resumes dividends as it makes progress

The life assurer is paying an interim dividend of 35c per share after completing a R2 billion share buy-back programme.

Ascendis warns of lower earnings as asset sales progress

The healthcare group says talks over its Remedica business continue while it’s making progress with the disposal of non-core businesses.

ELB slides on Gamsberg losses

The engineering group says the Northern Cape zinc project has suffered setbacks that resulted in additional costs and delayed milestone payments.

Bauba hampered by administrative delays

The platinum and chrome exploration company says an improving chrome market will help its full-year earnings.

Grit defends share purchases

The group says shares acquired by its Executive Share Trust from a vehicle jointly owned by its CEO were bought on an arm’s length basis.

Phumelela may pull the reins on dividends

The sports betting group says given the trading pressures it faces in South Africa, its board may revise its dividend policy.

08 March 2019

MTN surges after announcing asset sales

The network operator plans to realise at least R15 billion over the next three years which it will use to reduce debt.

Standard Bank benefits from African growth

The bank’s operations outside SA now contribute close to a third of headline earnings.

Sanlam earnings down on market volatility

The life assurer has raised its dividend by 8% despite a dip in earnings due to weak investments markets.

Aspen to pay down debt as it focuses on pharma

The pharmaceuticals group says it’s splitting its SA business to increase focus following the sale of its Nutritionals business.

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)

EPP unscathed by Sunday trading ban

The Polish shopping centre owner says more than 100 million customers visited its centres last year.

Weekly corporate finance activity by SA exchange-listed companies

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

Thorts – Cross-border loan transactions from a SA perspective

The South African loan market regularly sees syndicated and cross-border loan transactions involving a number of legal jurisdictions

07 March 2019

Mining results show why Murray is a target

ATON will be watching closely after a strong first half for Underground Mining offset weaker performances from the group’s other divisions.

Grindrod on solid ground after shipping spin-off

The freight, logistics and financial services group says it's positioned its businesses to increase market share and to capitalise on any global market improvements.

Afrox cuts dividend as costs rise

The group is restructuring its operations to focus on areas where it can grow earnings in a subdued economy.

Transaction Capital expects to maintain and grow dividends

The group says its two operating divisions have had a strong start to 2019, with upside potential if the economy improves.

A TOTAL RESET: Back to basics, says CEO Pattison after Edcon rescue coup

Edcon CEO Grant Pattison has pulled off a remarkable coup, saving SA's largest clothing retailer from imminent extinction and 27,000 jobs in the process. But enormous...

ANALYSIS: Christo Wiese might have more bad news for Shoprite: R4-billion, to be exact

Shoprite could be in for a thumping R4-billion bill in its effort to buy out founder Christo Wiese's controlling deferred shares, if previous valuations of these...

Exxaro expects bumper earnings

The diversified resources group says higher coal prices and a lack of once-off transactions will result in higher earnings.

Texton plans shake-up under new CEO

Marius Muller plans to selectively reposition the property fund’s portfolio and dispose of properties that are non-core.

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