• Wednesday, September 02 2015
  • JSE Sens


SA gold faces uncertain future


Upended by toxic combination of falling prices, intensifying labour disputes and surging cost of exploration, country’s largest producers are flailing


Rescuer for embattled Evraz still to be named


Deadline missed to name bidders for embattled steel maker while publication of business rescue plan pushed back two weeks

Retail & Consumer

First Krispy Kreme store to open in Rosebank


Global doughnut company, coffee retailer says first store in SA will be opened in Rosebank at the end of November, marks its first venture into Africa

Transport & Tourism

South African Airways still making a loss


National carrier says operating environment in 2014 was difficult because of increased competition, effects of Ebola, xenophobia on tourism, weak currency, legacy impairments, finance costs


Hyprop on high after revamps, extensions


Results please analysts but there is concern about future domestic opportunities

Retail & Consumer

Mr Price’s shares in bargain bin


Budget retailer blames downturn on poor fashion offerings and ‘very late onset of winter’


DRDGold cuts distributions, may keep cash for buyback

Niël Pretorius. Picture: MARTIN RHODES

CEO Niël Pretorius’s comments inspire 20% rise as prospects for long-term share holders improve


Eqstra long-term plan helps slash debt


Eqstra to continue divesting nonperforming assets and make further inroads into UK’s industrial equipment forklift businesses


How ‘failures’ can inspire success

Bottles  being processed at a  brewing company. Picture: ISTOCKPHOTO

Certain customers are studied for clues on what sells, writes Tim Harford

Miles Dally. Picture: LEON GROVE

Rainbow Farms and TSB help lift RCL Foods earnings

Diversified food producer overcomes challenging conditions to benefit from acquisitions and restructuring initiatives

Retail & Consumer

Cashbuild sees space for more stores

Werner de Jager. Picture: FINANCIAL MAIL

Company reports 35% rise in full-year profit, signalling improvement in building materials market


Day hospitals add up for Advanced


Advanced Health set to cash in on growing trend towards cost-effective medical services


Brian Joffe slams BEE for ‘not working’

Bidvest CEO Brian Joffe. Picture: MARTIN RHODES

Bidvest chief executive Brian Joffe says SA needs more black entrepreneurs and fewer people on government grants

Retail & Consumer

Actis acquires minority stake in Coricraft

Natalie Kolbe, a partner at Actis. Picture: RUSSELL ROBERTS

Private equity player acquires minority stake in Coricraft Group, a move that will enable furniture retailer to aggressively expand store footprint

Odgers Berndtson

Leading with passion is the only way to lead

Virgin Active SA managing director Ross Faragher-Thomas. Picture: SUPPLIED

Passion and energy have become critical and complementary attributes for today’s business leaders, says MD of Virgin Active SA Ross Faragher-Thomas

Featured Partner


COMPANY COMMENT: Sekunjalo; market panic

Iqbal Survé.  Picture: FINANCIAL MAIL

Sekunjalo Investment Holdings continues to hike stake in JSE-listed subsidiary African Empowerment Equity Investments, while there was panic again in markets on Tuesday

International companies


Google redesigns iconic logo for the fifth time

New Google logo. Picture: AFP/GOOGLE

Google unveils redesign of its iconic logo, the fifth such modification since the search engine giant started in 1998


Chrysler continues strong sales streak

Reid Bigland. Picture: BLOOMBERG/SCOTT EELLS

Car maker’s North American unit beats estimates, driven by sales of Ram trucks and Jeep SUVs


Probe into 7-Eleven wage fraud claims

Convenience store giant 7-Eleven is accused of unfair labour practices that exploit its vulnerable workers who are often international students. File picture: REUTERS/TIM WIMBORNE

Media probe shows 620 franchisee stores in Australia doctor payrolls and underpay workers

A Burger King outlet at Park Station in Johannesburg. Picture: THE TIMES

A Grand Parade of gaming and Burger King roll-outs

Empowerment group happy to refocus on Sunwest gaming asset to help fund roll-out of Burger King


No let-up in Macau casino slump as Chinese stay away

People cross a road near the Lisboa Casino in Macau. Chinese punters are avoiding the city amid a crackdown on graft. Picture: BLOOMBERG/JEROME FAVRE

Casino downturn drags Macau’s GDP to lowest since 2011 as new gambling resorts fail to attract Chinese

The Cotton On store in Sandton, Johannesburg.  Picture: COTTON ON GROUP

Australia’s Cotton On to open 40 stores across SA

Three of its highest grossing stores are based in South Africa


Walmart cuts work hours to save on costs

Souvenir T-shirts are seen for sale at the Walmart Neighborhood Market. Picture: REUTERS

In the midst of spending $1bn to raise employees’ wages and give them extra training, company has been cutting work hours to keep costs in check

Retail & Consumer

Cashbuild benefits from reining in operating costs

A Cashbuild outlet in Rustenburg, North West. Picture: MARTIN RHODES

Analyst says investing in building materials retailer makes sense because it competes in space it knows better than any of its competitors


WBHO hit hard by projects in Australia

Picture: SOWETAN

Loss-making projects in Australia take toll on strong revenue growth at construction firm Wilson Bayly Holmes-Ovcon


DRDGold rallies after reporting rise in profit

DRDGold CEO Niël Pretorius. Picture: MARTIN RHODES

DRDGold shares find favour with investors, rising more than 10% after retreatment company announces increase in full-year profit, revenue


SA Corporate’s Joburg rental housing foray reaps early rewards


Big earnings boost shows move into affordable rental housing market in inner-city Johannesburg paying off


Platinum needs Brics, says Lonmin

Lonmin CEO Ben Magara. Picture: FINANCIAL MAIL

Lonmin CEO Ben Magara says tougher vehicle-emissions standards in Brics nations will pay off


Rebekah Brooks set to cap remarkable turnaround


Rebekah Brooks shakes off phone-hacking scandal to return to Rupert Murdoch’s media empire


Macau takes dangerous gamble against Chinese


Cash ruse continues despite raids, new antimoney-laundering pact and crackdown on underground banking, writes Farah Master


Suzuki and VW finally clear their throats

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

VW to dispose of Suzuki Motor Corporation stake worth $3.8bn at close of four-year dispute


Berkshire backs oil with $4.5bn stake in refiner

Berkshire Hathaway chairman Warren Buffett. Picture: BLOOMBERG

Latest wager by Warren Buffett and his team — renowned for unorthodox bets — comes amid a slump in crude prices, driven by concerns a supply glut will persist

Retail & Consumer

Woolworths reverses David Jones four-year earnings slide, boosts profits

Ian Moir, CEO of Woolworths, at the company’s results presentation in Cape Town on Thursday. Woolworths has adopted a conservative view and is keeping a tight rein on costs. Picture: TREVOR SAMSON

Woolworth’s group revenue rises, jacked up by its buyout of Australian department chain David Jones


Volkswagen to invest R4.5bn in new models, Uitenhage factory

Picture: REUTERS

Group says it will invest more than R4.5bn by 2017 for new models, infrastructure at Uitenhage vehicles factory to help VW continue to dominate SA passenger car market


ArcelorMittal to discuss closure of melt shop in Vereeniging

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

Steel company says it has ‘no option but to commence consultations’ with stakeholders regarding closure of melt shop, forge at specialised steel works


WBHO reports fall in HEPS from continuing operations

Picture: SOWETAN

Construction company says loss-making projects within Australian civil businesses, poor trading conditions in general are main contributors to poor performance


Basil Read writes in an improved chapter

Neville Nicolau. Picture: BUSINESS DAY

But group goes to private lender for working capital


Schools division scores top marks for Advtech


Smart organic expansion and acquisitions pay off for private education group, writes Marc Hasenfuss


Flicker of hope amid gloom for Grindrod

Grindrod CEO Alan Olivier. Picture: MARTIN RHODES

Numerous large capital projects and recent tariff windfall from Mozambique lift Grindrod’s prospects



Norbert Sasse, Growthpoint CEO, addresses the media on the group’s results on Wednesday. He says there is very little the firm can buy in SA at the right price. Picture: MARTIN RHODES

Market might have taken more notice of MiX Telematics’s new strategic signals were it not for the prevailing ructions on bourses


Four simple rules could solve BEE conundrum


Focus on transparent, unencumbered, broad-based black economic empowerment that benefits recipients from day one

Financial Services

Deloitte acquires all of investment advisory firm

Deloitte Africa CEO Lwazi Bam. Picture: FINANCIAL MAIL

Deloitte Africa CEO Lwazi Bam says the group will be better equipped to advise inbound and intra-Africa investors with the acquisition of Frontier Advisory


Ramaphosa to update MPs on state-owned firms

Deputy President Cyril Ramaphosa addresses the South Africa-China business forum in Beijing, China, on Wednesday.  Picture: GCIS

Deputy President Cyril Ramaphosa to brief Parliament on Eskom, SAA and South African Post Office at sitting of the National Council of Provinces


ArcelorMittal SA steel mills to close as industry crisis bites

ArcelorMittal SA's Vanderbijlpark plant. Picture: FINANCIAL MAIL

ArcelorMittal SA latest to mull job cuts and review operations

African Business

Africa’s richest man plans cement plant in Zimbabwe


Aliko Dangote plans mining and power generation projects in investment-starved Zimbabwe as well as to set up a large cement factory


Europe and UK operations boost Bidvest

Brian Joffe. Picture: MARTIN RHODES

Bidvest’s SA business, which provides nearly half of total revenues and profits lags far behind performances of its Europe and UK operations

Financial Services

Blue Financial agrees to funding structure

Blue Financial Services CEO Johan Meiring. Picture: FINANCIAL MAIL

Board approves funding structure for Blue Financial Services that would see a cash boost from unidentified shareholders


Starbucks not guaranteed instant success in SA


Taste Holdings will have to wrestle with smaller coffee shops to establish Starbucks brand in South Africa, most obviously against Famous Brands


COMPANY COMMENT: Metmar; nuclear power

Cranes unload iron ore from a ship at a port in Rizhao, Shandong province, China.  Picture: REUTERS

Metmar’s deal with Traxy’s in a wobble as labour may be the hidden cost of nuclear power


Europe beckons as Texton moves beyond office niche


Offshore property exposure poised for rapid expansion in Texton Property Fund's drive to diversify


Bidvest remains focused on expanding in Africa despite slow progress

Bidvest CE Brian Joffe. Picture: FINANCIAL MAIL

Industrial conglomerate says southern African operations performed ‘relatively well’ as many markets in emerging market division faced economic challenges

Retail & Consumer

Pioneer rises to market challenge

Picture: THE TIMES

Company reports stellar growth despite increased competition, maize deflation and exiting of key businesses

Retail & Consumer

Bittersweet choice in Woolworths’ checkout aisles

Woolworths store at the V&A Waterfront in Cape Town.

Retailer has bittersweet treat for its customers — it’s removing all chocolates and other sugary goodies from its checkout queue


US retailers prod China for lower prices after devaluation

Picture: REUTERS

US retailers are starting to negotiate with Chinese suppliers to take advantage of lower manufacturing costs after China devalues yuan


Afrox restructure hits sales, costs decline


African Oxygen enjoys healthy cash flow while net debt down to R354m from R677m

Retail & Consumer

Retailers rue costs of power outages


Drop in foot traffic at malls stores without emergency power damper sales


Basil Read returns to profitability

Neville Nicolau. Picture: FREDDY MAVUNDA

Under new CE, Neville Nicolau, construction company has embarked on restructuring drive that aims to cut costs, improve operational performance


Publishers brace for Apple’s ad-blocking

Picture: REUTERS

Sites already struggling to monetise growing mobile audience concerned about prospect of iPhone, iPad users being able to activate ad-blocking

Financial Services

Top forex brokerage suspended over ponzi scheme


Action against foreign exchange brokerage ACM Gold and Trading latest in string of regulatory crackdowns


Lonmin expects cash costs to stay below guidance

Platinum producer says it expects underlying cash costs to remain below its guidance, indicating that its deep cost-cutting measures are beginning to bear fruit

Retail & Consumer

Woolworths reaps benefits of David Jones takeover


Company says acquisition of iconic Australian chain has transformed it into retailer with significant scale across sub-Saharan Africa, Australasia

Financial Services

African Bank’s ‘good bank’ gets approval for financial services licence


Curator says ‘good bank’ received Reserve Bank authorisation to be established and Financial Services Board approval for financial services provider licence

JSE Sens

Standard Bank

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