• Tuesday, September 02 2014
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JD Group profit warning suggests debtors book ‘must have deteriorated very badly’

1 hour(s) ago

JD Group’s warning suggests debtors book — which it has agreed to sell to international buyer — ‘must have deteriorated very badly in last six months’ of year ended June

Financial Services

FirstRand earnings show all is not lost for banks

FirstRand group CEO Sizwe Nxasana. Picture: MARTIN RHODES
1 hour(s) ago

FirstRand’s news that it expects diluted normalised earnings per share in year to June to rise by between 20% and 22% offers some good news for supporters of banking shares

Mining

DRD Gold reports 100% drop in headline earnings

Picture: BLOOMBERG
8 hour(s) ago

Gold producer says headline earnings per share fell 100% to nil, but says although results reflect weak full year, production and revenue did increase in fourth quarter

Retail & Consumer

JD Group soars on news of finance unit sale

Picture: THINKSTOCK
9 hour(s) ago

Shares in struggling furniture retailer climb after it announces plans to sell financing arm, exposure to troubled consumer debt market has been costly

Healthcare

Denials of bid to buy out Adcock ‘deliberate’

Adcock Ingram's headquarters in Midrand, Johannesburg. Picture: FINANCIAL MAIL
14 hour(s) ago

Analysts say denial a deliberate attempt to lower expectations and avoid inflating company’s share price

Telecoms & Technology

New Vodacom strategy chief has work cut out

Vodacom branding on the Ponte Building in Hilbrow, Johannesburg, in 2011. Picture: GALLO IMAGES/FOTO24/FELIX DLANGAMANDLA
15 hour(s) ago

Newly appointed chief officer for strategy and business development will, among other tasks, have to diversify the revenue streams that is heavily reliant on SA

Property

Redefine cuts stake in Brisbane property firm

Redefine Properties' head office in Rosebank, Johannesburg.
15 hour(s) ago

Rand-hedge property stock is reducing its holding in Cromwell Property Group as it looks to recycle capital and pursue western Europe and UK opportunities

Retail & Consumer

JD Group to sell its consumer finance division to international buyer

Picture: THINKSTOCK
1 day(s) ago

The sale of the division will allow the group to focus ‘on the strategic repositioning and growth of its retail operations’

Retail & Consumer

Woolworths asks shareholders for R10bn

Woolworths store at the V&A Waterfront in Cape Town.
1 day(s) ago

JSE-listed clothing and food retailer will raise about R10bn to repay part of money it borrowed to pay for its R21.6bn takeover of David Jones

Picture: THINKSTOCK

COMPANY COMMENT: JD Group; Rhodes Food Group

JD Group has a rich parent in Steinhoff, while the proposed listing of Rhodes Food Group might prompt the question of whether the JSE is due for another new listings boom

Industrials

WBHO’s Mozambican factory puts a dent on profit

Picture: SOWETAN
15 hour(s) ago

WBHO says poor performance by its Capital Star Steel pipe factory significantly dented its profits in year to June

Retail & Consumer

Rhodes Food aims to raise R600m in debut listing

Picture: JSE
15 hour(s) ago

Ready meal and jam maker announces intention to list on the JSE’s main board

Retail & Consumer

Country Bird’s expansion in Africa hampered by debt

Picture: THINKSTOCK
1 day(s) ago

The poultry producer reports a loss from continuing operations of R115.5m for the year ended June

Opinion

Slowing growth bad for stocks

What would an era of long-term stagnation or a sustained period of slow growth mean for equities?

Opinion

Put two and two together to identify PIC’s next boss

Looking at the criteria listed for the position of PIC’s next chief, it is highly probable that Daniel Matjila will succeed Elias Masilela


International companies


Europe

Telefónica to exit Telecom Italia after Brazil deal

Picture: REUTERS
1 day(s) ago

Tense relations between Spanish and Italian firms came to head last week when Telefónica beat Telecom Italia to buy GVT

Asia-Pacific

Samsung’s engineering and shipbuilding firms to merge

A worker walks at a construction site of Samsung Engineering in Seoul.   Picture: REUTERS
1 day(s) ago

Latest step in restructuring at South Korea’s largest conglomerate will see Samsung Heavy Industries absorbing Samsung Engineering for over $2bn

Three drugs made by Cipla LTD to control asthma, a Rotahaler for use with Rotocaps, the inhaler salbutamol, and Seroflo which contains salbutamol and fluticasone, photographed in a studio in Mumbo, India on October 18 2001. Picture: SANTOS VERA. BLOOMBERG NEWS

Cipla eyes entry to US market with cheaper treatment for asthma

Goal is to make Cipla a major player in the US by 2020, with 20% of sales emanating from country by then
An Ellerines store in Randburg, Johannesburg.  Picture: MICHAEL ETTERSHANK

THE CHATTER: Rescuers in race against time to save Ellerines

Two weeks after initiating business rescue proceedings, the once powerful furniture retailer faces an uncertain future

Property

Ascension Properties surpasses own growth target

Ascension Properties executive director Shaun Rai. Picture: FINANCIAL MAIL
1 day(s) ago

Ascension Properties beats its portfolio growth target in its year ended June, with its property portfolio growing 46%

Telecoms & Technology

Morvest grows revenue 15%

Rand notes. Picture: THINKSTOCK
1 day(s) ago

This is despite serious concerns on reduced expenditure by the local telecoms industry, which is its biggest market

Property

Hyprop profit takes hit from Rosebank Mall

Hyprop Investments CEO Pieter Prinsloo. Picture: FINANCIAL MAIL
1 day(s) ago

The cost of renovating the Mall of Rosebank contributed to Hyprop Investment’s profit falling in the year to June

Business Times

BAT hauled to court over spy claims

Picture: REUTERS
2 day(s) ago

Carnilinx accuses lawyer of leaking info to tobacco giant

Business Times

Lucrative seam of media earnings

BEAMING: A satellite dish at MultiChoice's headquarters in Johannesburg. Picture: THE TIMES
2 day(s) ago

Phuthuma Nathi the only opportunity other than Naspers for investors to get access to the huge cash flows generated by MultiChoice

Retail & Consumer

Burger King growth delays GPI dividend

Picture: REUTERS
4 day(s) ago

Company indicates it is feeding a voracious growth appetite in fledgling fast-food chain Burger King, and has consequently delayed the dividend announcement

Energy

Eskom plans to defend nuclear tender

Eskom’s Koeberg nuclear plant looms over Melkbosstrand in Cape Town. Picture: SUNDAY TIMES
4 day(s) ago

Eskom says it will ‘vigorously oppose’ an application by Japanese-US nuclear specialists to suspend the award of a R4.3bn contract for Koeberg to its French rival, Areva

Property

Shopping centre owner Hyprop boosts distribution

Hyprop Investments CEO Pieter Prinsloo. Picture: FINANCIAL MAIL
4 day(s) ago

Hyprop maintains strong earnings from malls despite slowdown in consumer spending

Mining

Ramp-up to leave Implats tapped out

DIFFICULT SITUATION: Impala Platinum CEO Terence Goodlace addresses the media on the group’s outlook. Picture: MARTIN RHODES
4 day(s) ago

Implats will run down its R4bn cash pile by the end of the year to ramp its mines back to full production after a five-month strike

Retail & Consumer

Massmart takes knock from Game

A Game store, operated by Massmart, in Rosebank, Johannesburg. Picture: SUNDAY TIMES
4 day(s) ago

Massmart’s Game continues to underperform, weighing on profitability, as sales of durable goods fall due to pressure on consumers

Healthcare

Adcock divides to conquer as it seeks recovery from loss

A sign outside the Adcock Ingram offices in Johannesburg in December  2013. Picture: REUTERS
4 day(s) ago

New management of drug maker Adcock Ingram begins reorganisation of the business, splitting it into five divisions

Land & Agriculture

Safcol aims at exports to China, India to counter rising costs

Picture: THINKSTOCK
4 day(s) ago

Operating costs are being driven by the rising cost of leasing sawmills, and high transport and labour costs

Mining

Implats undertakes strategic review of its assets, says Goodlace

Heaps of platinum ore before the refinery process. Picture: SUNDAY TIMES
5 day(s) ago

Chief financial officer Brenda Berlin says Implats has no plans to raise further finance as it has cash of R4.3bn and has saved more than R5bn

Retail & Consumer

Massmart half-year profit down 25%

Makro store in Midrand, Johannesburg. Picture: SOWETAN/ANTONIO MUCHAVE
5 day(s) ago

Retailer reports a 25.2% fall in half-year profit as debt-laden consumers battling rising living costs cut back on spending

Retail & Consumer

Woolworths hopes basket shoppers turn to trollies

Picture: THINKSTOCK
4 day(s) ago

Through a supermarket play, the no-longer niche retailer is tackling Pick n Pay and Checkers head-on

Energy

Westinghouse launches legal action against Eskom

Eskom’s Koeberg nuclear plant looms over Melkbosstrand in Cape Town. Picture: SUNDAY TIMES
5 day(s) ago

US company says it has asked Johannesburg High Court to order Eskom to provide it with relevant documentation supporting its decision to award contract to Areva

Mining

Slow recovery from strike for Impala Platinum

Picture: THE TIMES
5 day(s) ago

Platinum producer says margins will be under pressure in short to medium term, strategic review of operations, projects will determine new way forward

Financial Services

Santam profit rises on ‘turnaround in crop-insurance business’

Picture: GALLO IMAGES/CHARLES GALLO
6 day(s) ago

Short-term insurer Santam says first-half headline earnings per share to end June increased by 119% to 799c

World

Steel profits hurt in hunt for sales

DEMAND: Steel production takes place at the Baosteel GroupCorp. facilities in Shanghai, China.  Baosteel says iron-ore prices have further to fall. Picture: BLOOMBERG
5 day(s) ago

World’s biggest steel makers hurting profits by chasing at any cost

Asia-Pacific

Malaysia Airlines mourns as new ordeal looms

Malaysia Airlines planes sit on the tarmac at Kuala Lumpur International Airport. Picture: REUTERS
5 day(s) ago

A quarter of airline’s staff may lose their jobs at unprofitable airline that was hit by two aircraft disasters this year

Opinion

STOCK TALK: Joffe's Adcock intentions less than transparent

Brian Joffe. Picture: MARTIN RHODES

It was silly for anyone to think they could make a ‘quick and easy profit’ at Brian Joffe’s expense

Opinion

COMPANY COMMENT: Construction industry; Telkom

Picture: SUSANA GONZALEZ/BLOOMBERG

State not building up construction sector, while Telkom’s CFO appointment is likely to be an internal one to ensure continuity

Telecoms & Technology

Net 1 looks beyond SA as earnings improve

Net1 UEPS chairman and CEO Serge Belamant.  Picture: ROBERT BOTHA
1 day(s) ago

Net 1 share price surges 18.1% after group reports a rise in earnings, boosted by a $26.6m recovery for the Sassa contract it lost in a court dispute

Industrials

Bidvest ‘very happy’ with annual results

Bidvest CEO Brian Joffe. Picture: MARTIN RHODES
1 day(s) ago

Bidvest CEO Brian Joffe says ‘all businesses in group did well’ considering challenging economic environment

Retail & Consumer

SAB tries again in craft beer market

BEER  ON THE WALL: A bartender pulls a beer at Beerhouse in Long Street, Cape Town, which serves 99 different craft beers. Some South African producers have started to gain recognition abroad. Picture: THE TIMES
1 day(s) ago

The rise of craft beer has been fuelled in recent years by beer festivals and a growing number of restaurants and bars selling their often unique products

Retail & Consumer

Pick n Pay launches price comparison tool

Picture: BUSINESS DAY
2 day(s) ago

Under Brand Match, Pick n Pay will compare its prices of one thousand top-selling branded products with prices in other supermarket chains

Retail & Consumer

Retrenchments at Ellerines uncertain

An Ellerines store in Randburg, Johannesburg.  Picture: MICHAEL ETTERSHANK
1 day(s) ago

Business rescue practitioners for Ellerines have not yet decided whether or not to retrench employees, and say they are ‘investigating all possibilities to restore profitability of its business’

Business Times

Aurora miners lose faith as court battle drags on

A stranded miner at Aurora’s mine in Grootvlei, Springs, in December 2010. Picture: ROBERT TSHABALALA
2 day(s) ago

Former employees say they have little faith in a long-delayed court process to recover outstanding payments

Business Times

Curious case of the cloned plates

Telkom CEO Sipho Maseko. Picture: ARNOLD PRONTO
2 day(s) ago

Telkom boss gives no answers to queries about investigation

Retail & Consumer

Outgoing Truworths CEO cashes in R115m

Truworths CEO Michael Mark. Picture: FINANCIAL MAIL
2 day(s) ago

Within a week of announcing his retirement from the group he led for two decades, Michael Mark cashed in 1.6-million shares

Business Times

There goes the bribery case that never was

Picture: BUSINESS DAY
2 day(s) ago

The corruption allegation that almost led to its downfall still baffles Pinnacle, writes Chris Barron

Mining

Motala said to have sought political favour

Enver Motala. A key player in liquidations. Picture: RUSSELL ROBERTS/FINANCIAL MAIL
4 day(s) ago

Former lead liquidator of Pamodzi Gold’s mines was forced out of the team of provisional liquidators managing the Pamodzi assets by the master of the High Court

Opinion

ON THE MONEY: Numbers in rescue of African Bank are the devil in the detail

There are major uncertainties around the Reserve Bank’s plan. What if it doesn’t work? Perhaps there is room to massage the solvency

Opinion

THICK END OF THE WEDGE: Eskom CE choice is the perfect meddle

Tshediso Matona is arguably the most experienced of government’s directors-general, but compared to Brian Dames, his experience of Eskom is a mere glancing blow

Retail & Consumer

Woolworths’ food sales grow ‘ahead of pack’

HIGH STAKES: Woolworths shareholders will decide on Tuesday  whether or not to approve what  would be the biggest offshore investment to date by a South African retailer. Picture: JAMES OATWAY
5 day(s) ago

Retailer says bigger store ‘supermarket’ strategy has performed well, encourages customers to ‘spend more with us’

Property

Texton bucks trend with double-digit growth

CEO Rob Kane in front of the Vunani offices, now known as Texton Property Fund. Picture: FINANCIAL MAIL
4 day(s) ago

Despite offices having been the worst-performing sector of the SA property market in recent years, Texton Property Fund still achieves double-digit growth in income payouts

Healthcare

Adcock says it’s ‘too early to return to profitability’ as restructuring continues

Picture: THINKSTOCK
5 day(s) ago

Having fallen to net loss of R962m in nine months to June, drug maker says it is too early to provide investors with ‘any comfort regarding return to profitability in short term’

Companies

SA firms face high debt costs after Abil failure

Picture: THINKSTOCK
5 day(s) ago

Flaws exposed in the Africa’s biggest corporate bond market have prevented investors from selling Abil’s debt

Mining

CoAL rises on ‘take or pay’ settlement

Coal of Africa chairman David Brown. Picture: FINANCIAL MAIL
5 day(s) ago

Coal of Africa gains further 13.56% on news that it had raised $64.9m by placing shares

Industrials

Rising costs, strikes hit Imperial’s results

Mark Lamberti. Picture: TYRONE ARTHUR
5 day(s) ago

Poor GDP growth, rising wage and transport costs, and labour disruptions in SA all help diluted headline earnings per share fall 7%

Property

Growthpoint in talks to take over Acucap Properties

Norbert Sasse,  CEO of Growthpoint. Picture: JEREMY GLYNN
5 day(s) ago

JSE’s largest property group by market value in talks to take over Acucap Properties, says CEO Norbert Sasse

Industrials

M&R sees oil, gas and energy diversification by 2020

Murray & Roberts CEO Henry Laas. Picture: FINANCIAL MAIL
5 day(s) ago

Murray & Roberts specifically targeting oil and gas, mining, energy and industrial markets, says CEO Henry Laas

Industrials

‘Difficult’ contractual space hits Basil Read

Picture: BLOOMBERG
5 day(s) ago

Contract difficulties resulted in a high proportion of work remaining uncertified, says mid-tier construction and engineering group

Financial Services

Healthier Santam keeps eye on weather

Picture: GALLO IMAGES/CHARLES GALLO
5 day(s) ago

Short-term insurer concerned about possible hailstorms in the last quarter of year, with favourable weather conditions critical to profitability

Property

Growthpoint benefits from acquisitions, weak rand

Growthpoint Properties' headquarters in Sandton. Picture: FINANCIAL MAIL
6 day(s) ago

Property company warns that slowing economic growth and rising interest rates will take toll on rental demand

Industrials

Impairments, Gold Coast woes hit Aveng

TRYING TIMES: Aveng CEO Kobus Verster addresses the media at the company's results in Sandton on Tuesday. Picture: MARTIN RHODES
6 day(s) ago

The construction and engineering group says that a decline in public-sector construction work over the past year has had to be offset by private-sector projects

 
All Share 51462.570.68% up
Top 40 46076.970.71% up
Financial 15 14884.341.15% up
Industrial 25 60029.860.47% up
Resource 10 56658.070.89% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
FTSE 100 6829.170.06% up
Dow Jones 17038.88-0.35% down
All Share 51462.570.68% up
ASX 5656.900.00% same
S&P 500 1998.660-0.24% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
USD/ZAR 10.74290.73% up
GBP/ZAR 17.7020-0.08% down
EUR/ZAR 14.10040.69% up
JPY/ZAR 0.1022-0.06% down
AUD/ZAR 9.96610.12% up
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank
 
Gold 1265.5500-1.63% down
Platinum 1409.0000-1.05% down
Silver 19.2030-1.35% down
Palladium 882.0000-2.43% down
Brent Crude Oil 100.540-2.22% down
All data is delayed by 15 min.
Data supplied by INET BFA
Standard Bank

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  • All Share : 51462.57
    Change: 0.68%
    Top 40 : 46076.97
    Change: 0.71%
    Financial 15 : 14884.34
    Change: 1.15%
    Industrial 25 : 60029.86
    Change: 0.47%
    Resource 10 : 56658.07
    Change: 0.89%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • FTSE 100 : 6829.17
    Change: 0.06%
    Dow Jones : 17038.88
    Change: -0.35%
    Hang Seng : 24749.02
    Change: 0.00%
    ASX : 5656.90
    Change: 0.00%
    S&P 500 : 1998.660
    Change: -0.24%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • ZAR/USD : 10.7428
    Change: 0.73%
    ZAR/GBP : 17.7020
    Change: -0.08%
    ZAR/EUR : 14.1004
    Change: 0.69%
    ZAR/JPY : 0.1022
    Change: -0.06%
    ZAR/AUD : 9.9661
    Change: 0.12%
    All data is delayed by 15 min
    Data supplied by INET BFA
  • Gold : 1265.5700
    Change: -1.63%
    Platinum : 1409.0000
    Change: -1.05%
    Silver : 19.2046
    Change: -1.34%
    Palladium : 882.5000
    Change: -2.38%
    Brent Crude Oil : 100.520
    Change: -2.24%
    All data is delayed by 15 min
    Data supplied by INET BFA
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