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A pedestrian walks past a Cartier store, operated by Richemont, as it stands illuminated at night in Shanghai, China. Picture: BLOOMBERG

Foreign exchange losses take toll on Richemont

Swiss-based luxury goods group posts drop in full-year net profit due to foreign exchange losses after Swiss National Bank ends peg of Swiss franc to euro

Financial Services

Investec makes up on tough few years

Investec. Picture: MARTIN RHODES

Investec is in the best position it has been since the mid-2000s, says CEO Stephen Koseff

Transport & Tourism

Tsogo may split off property assets

Casino. Picture: DAILY DISPATCH

Envisaged listing would rank the specialised Reit among the biggest real estate counters on the JSE


Mediclinic revenue rises but shares dip


Share price falls as much as 7% after investors expected even better results

Financial Services

Niveus changes its dividend policy amid licence worries

Niveus originally indicated a willingness to pay half its headline earnings out in dividends


Afrimat’s headline earnings jump 24.4% and ‘the party’s not over yet’

Mine. Picture: SOWETAN

Group benefits from a good performance by its newer industrial-minerals operations


Sacoil in red after portfolio rationalisation

Oil refinery. Picture: THINKSTOCK

Company goes to court to reclaim R3.3m plus interest linked to former CEO Robin Vela’s unpaid taxes


Krispy Kreme doughnuts coming to SA

Global doughnut company Krispy Kreme planning to open 31 shops in South Africa over next five years in first venture into Africa

Transport & Tourism

Gibela Rail confident of meeting 2017 target

Lucky Montana, left, group CEO of Prasa, and Gibela Rail MD Marc Granger are optimistic about the regulatory progress being made towards delivering the first 20 trains being built in Brazil. File picture: MARTIN RHODES

Programme on track despite claims of nepotism in empowerment deals, writes Nicky Smith


Investec Property Fund raises dividend


Fund’s portfolio remains appropriately defensive in the current economic environment, says MD Nick Riley


Stefanutti recovery plan bears fruit

Stefanutti Stocks CEO Willie Meyburgh. Picture: FINANCIAL MAIL

Diversified construction and engineering group Stefanutti says it has resolved ‘self-inflicted’ woes


COMPANY COMMENT: Tiger Brands; NVest Financial Holdings

Peter Matlare, CEO of Tiger Brands. Picture: MARTIN RHODES

Wily staff make new headaches for Tiger Brands, while NVest Financial Holdings aims to list on the AltX shortly

International companies


Dutch government ‘to push ABN AMRO listing’

Eurogroup president and Dutch Finance Minister Jeroen Dijsselbloem gives a press conference after finance ministers met at the European Council in Brussels on Monday.  Picture: AFP PHOTO/EMMANUEL DUNAND

Dutch Finance Minister Jeroen Dijsselbloem’s plan expected on Friday for possibly the country’s biggest IPO


UK banks face further fines


Barclays and Royal Bank of Scotland face up to £7bn in additional fines for misconduct within two years


McDonald’s CEO gets grilled at first annual meeting

Shareholders take new CEO Steve Easterbrook to task over wages, advertising and food
Tiger Brands CEO Peter Matlare. Picture: MARTIN RHODES

African units drag Tiger Brands down but operations in SA remain robust

Haco Tiger Brands in Kenya loses 60% of volume growth and 58% of turnover while foreign exchange losses cause more pain


Ferrari approaches pole position for IPO

Ferrari’s Sebastian Vettel leads Lewis Hamilton of Mercedes in the Spanish Grand Prix in Barcelona on May 10. REUTERS

Fiat Chrysler is preparing to list a stake in its sportscar division just as the most successful Formula One team is getting its act together again, write Alan Baldwin and Agnieszka Flak


Chinese deals give much-needed boost to Brazil

Brazilian President Dilma Rousseff, right, offers a toast after lunch with Chinese Premier Li Keqiang in Brasilia on Tuesday. Picture: REUTERS

Chinese officials announce sweeping list of investment plans and loans in Brazil totalling many billions of dollars

Financial Services

Barclays Africa fails to placate activist investor

Maria Ramos. Picture: MARTIN RHODES

Shareholder activist Theo Botha tables 13 questions, including on delayed share-performance target and lower income from African operations


Leading banks fined $6bn after guilty plea in forex probe

US Attorney General Loretta Lynch comments on the outcome of banks' foreign exchange manipulation cases, at the Department of Justice in Washington, DC, the US, on Wednesday. Picture: BLOOMBERG/ANDREW HARRER

US Attorney General Loretta Lynch calls currency-rigging scheme a brazen display of collusion and market subversion

Financial Services

Investec full year net interest income up 8.9% to £539m

Investec. Picture: MARTIN RHODES

Investec Plc says net interest income for year to March up 8.9% to £539m, due largely to book growth, lower cost of funding in the UK and positive endowment effect in SA


Afrimat full-year net profit up 22.9% to R200.34m

Mine. Picture: SOWETAN

Minerals and construction materials supplier Afrimat boosts full-year net profit to R200.34m as company increases sales of higher margin products


Mediclinic full-year headline earnings up 13% to R3.44bn

Mediclinic International CEO Danie Meintjes. Picture: FINANCIAL MAIL

Private hospital group says full-year normalised headline earnings up 13% to R3.44bn as the company benefits from a weaker rand

Retail & Consumer

Spar close to signing deal in Zambia

Shoppers at a Spar outlet in Rustenburg, North West. Picture: MARTIN RHODES

Retailer Spar in talks to expand in Zambia and set up shop in Ghana and Kenya for additional revenue streams as poor economic growth, household debt and unemployment crimp spending in SA

Transport & Tourism

Tsogo Sun lifts income despite ‘tough year’

Casino. Picture: DAILY DISPATCH

Hotel group says it has shown resilience‚ good overhead control, remained cash generative, while maintaining focus on growth strategy


SABC both state owned company and public broadcaster, minister says

SABC television studios in Auckland Park. The uptake of digital broadcasting technology will see an increase from three SABC channels to more than 10 channels. Picture: KEVIN SUTHERLAND

Communications minister denies saying Companies Act trumps Broadcasting Act in matters of governance of SABC

Media & Advertising

Naspers chief aims to echo Tencent success

Koos Bekker. Picture: BLOOMBERG

Billionaire Koos Bekker’s vision is for Naspers to become a leading e-commerce presence in places that US tech giants have not yet focused on


Central Rand to raise R11m

Central Rand Gold CEO Johan du Toit. Picture: FINANCIAL MAIL

Central Rand Gold raising about R11m to advance its strategy of mining surface material and pay down debt


Plenty of fizz as Bowcalf reveals SoftBev listing plan


Newly created soft-drinks bottler SoftBev may also be in line to grab the Pepsi bottling contract from Pioneer Foods Group


COMPANY COMMENT: Pioneer; Mining Charter

Picture: THE TIMES

Pioneer’s small steps lead to Africa growth while the spate between mines and the state hurts SA’s image


De Beers tailings operation up for sale


De Beers puts operation to recover diamonds from tailings at Kimberley up for sale, seeking to extend life of its second-largest source of local diamonds beyond 2018


Aspen agrees to sell portfolios to Strides in Singapore and India

Aspen Pharmacare Holdings says transactions form part its strategy to focus attention on areas where most value can be added

Retail & Consumer

Mr Price eyes earnings rise


Mr Price Group expect headline earnings per share of between 902c and 933c, despite factors weighing on consumer spending


Chamber of Mines urges carbon tax delay

Mike Teke. Picture: MARTIN RHODES

Chamber of Mines president Mike Teke calls proposed tax an ‘absurdity’ in the light of heavy losses in the carbon-intensive industry


BHP broke law with officials’ Beijing trips

People walk through the foyer of the BHP Billiton headquarters in Melbourne, Australia, in this file picture. Picture: BLOOMBERG

Australian miner to pay $25m to settle US SEC claims it offered hospitality packages to 176 foreign officials ‘involved with BHP Billiton contract negotiations or regulatory dealings’


COMPANY COMMENT: Oceana; Theo Botha

Oceana CEO Francois Kuttel. Picture: FINANCIAL MAIL

Will Oceana be bitten fishing in new seas? And shareholder activist Theo Botha says it is not his aim to give companies a hard time with questions at annual general meetings


COMPANY COMMENT: Transaction Capital; estate developments

Noord Street taxi rank in Johannesburg is part of a much larger system that has democratised the movement of people. Picture: SUNDAY TIMES/ERIC MALEMA

Transaction Capital has upward potential, while secure estate developments in SA are proving to be a hit

Telecoms & Technology

Dimension Data to boost spend on cloud offerings


Dimension Data is targeting $4bn of revenues from data centre management in three to five years

Media & Advertising

Blackstar confirms name change to Tiso Blackstar


Investment holding company says scheme of arrangement to acquire all ordinary shares in issued share capital of Times Media Group is ‘unconditional’

Land & Agriculture

Oceana on course to become big fish after R4.6bn US acquisition

Oceana CEO Francois Kuttel. Picture: FINANCIAL MAIL

Fishing conglomerate, which has Tiger Brands as an anchor shareholder, will acquire 100% of Louisiana-based Daybrook Fisheries

Retail & Consumer

Weaker naira puts pressure on Tiger Brands

Food producer says performance was held back by foreign exchange losses in Nigeria-based Dangote Flour Mills

Financial Services

Coronation to stay on mandate despite dip

Anton Pillay. Picture: FINANCIAL MAIL

Though Coronations stock has dropped 22% so far this year, its fund managers won’t change its long term, valuation-driven investment philosophy

Telecoms & Technology

Dimension Data set for more acquisitions

Derek Wilcocks. Picture: RUSSELL ROBERTS

Dimension Data in discussions to buy one of two companies operating in the software-applications market as part of its growth strategy

African Business

Bourses in Africa plan to cross-list more ETFs


JSE says SA, Nigeria and Kenya planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities

Retail & Consumer

Astral hatching plan to expand presence in Africa

Astral Foods CEO Chris Schutte. Picture: FINANCIAL MAIL

The continent offers huge rewards for poultry producer Astral Foods with low per-capita chicken consumption a big opportunity

Retail & Consumer

Pioneer eyes Africa as earnings slide


Maker of ProNutro and Weet-Bix breakfast cereal reports a 10% decline in earnings

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Investec Investec finals
Mediclinic Mediclinic finals
Australia Property Fund Australia Property Fund finals
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