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...

22 August 2017

Sasol maintains hedges as it weighs up oil price and currencies

Sasol’s cost-savings programmes show early results as the oil and chemicals group prepares for low oil prices and volatile currencies.

South African mines hold back AngloGold’s first-half production

AngloGold Ashanti’s South African operations have detracted from a positive first-half at its other mines across the globe. It says it's taken decisive action to stem...

Guptas 'sell' ANN7, New Age to Zuma defender Mzwanele Manyi for R450m

The Gupta family has announced that it's decided to sell its media outfits, The New Age and ANN7, to Manyi for a combined R450m.

Growth at ADvTECH schools slows as families emigrate

ADvTECH says enrolments haven’t been as strong as expected in its Schools division due to the difficult economic climate and an unsettled socio-political environment.

African Rainbow boosted by rising commodity prices

African Rainbow Minerals expects to report a strong turnaround in its 2017 financial year results. Notwithstanding the rand’s strength against the dollar over the year...

OUTA: Time to block state capture, not its opponents like Makhosi Khoza

The Organisation Undoing Tax Abuse (OUTA) is concerned that the ANC is moving to block opposition to state capture.

Community - Why you can’t afford not to have a tax-free savings account

Most South Africans use money market or fixed deposit accounts for their saving needs. Some people invest in unit trusts to put away part of their...

21 August 2017

Gordhan vindicated: Court affirms FinMin can't aid Gupta-bank matter

A court has confirmed what was probably already obvious: that a FinMin can't interfere or step in with the relationship between a bank and its client.

Aveng punished as it pushes out the release of its 2017 results

Aveng has again incurred the wrath of investors, who pushed the construction group’s shares more than 7% lower at their worst on Friday after it postponed...

Afrox shares rally on profit forecast

African Oxygen has had a pretty good 2017 financial year as it increased volumes, benefited from operational efficiencies and earned more interest on money in the...

Khoza's firing as accountability committee boss exposes ANC underbelly

The Zuma-supporting ANC's torching of democracy was never more blindingly obvious than in its firing of outspoken party rebel Makhosi Khoza.

Pan African buffeted by currency headwinds

Pan African Resources has felt the full effect of the rand’s relative strength over the past year as the currency gained ground against the dollar and...

Cash-flush ARB ups dividend despite revenue pressure

RB Holdings is feeling pressure from all sides: limited spending on infrastructure has constrained growth at its Electrical Division, while weak consumer confidence...

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