Basil Read: Shares get boost after profit forecast
Construction company Basil Read’s shares got a boost yesterday after the group forecast a return to profit this year after plunging to a loss last year.
Shoprite: New era for 78-year-old trolleys
Food retailer Shoprite has launched a shopping trolley with Global Positioning System to direct consumers fast and effectively and also to alert them to discounted products and promotions while in the store, it said yester
Telkom: Offer taken directly to affected staff
Telkom has offered voluntary severance and voluntary early retirement packages to Communication Workers Union members after talks between the company and union reached a deadlock two weeks ago.
Novus shares soar on JSE debut
Novus Holdings made its debut on the JSE yesterday and its share price almost doubled in value.
Astrapak: East Rand Plastic sold for R77. 5m
Packing and plastic firm Astrapak has sold its East Rand Plastic business to another packaging group, Transpaco, for R77. 5 million.
Curro Holdings: R740m rights offer to raise capital
Curro Holdings planned to raise about R740 million through a rights offer issue of 29 million new ordinary shares at R25 apiece, the company said yesterday.
Petrol, water prices pressure inflation
SA inflation is expected to hit at least six percent by the end of the year as the prices of petrol, electricity and water rise, say economists.
Exxaro’s new boss knows the industry very well
Mxolisi Mgojo, the newly appointed chief executive of Exxaro, will fit comfortably in the shoes of one of the most respected man in the corporate world, Sipho Nkosi, analysts said yesterday.
AfriSam, PPC halt talks on merger
PPC and AfriSam halted their talks after they could not reach consensus on the terms of a merger, both the companies said on Friday.
CWU threatens Telkom with strike, wants boss removed
The Communication Workers Union has called for the removal of Telkom chief executive Sipho Maseko and threatened to hold “a mother of all strikes” which would shutdown the company, the union said on Friday.
Purple: Revenue rises amid strategy revamp
Asset management company Purple has reported an increase of 28 percent in revenue to R62. 6 million and a 94 percent hike in its after tax profit of R16. 3m for the six months ended in February.
Afrimat: Firm expects higher earnings
Listed open-pit mining and material company Afrimat has announced that the company’s basic earnings a share for the year was expected to be between 124. 5c and 135. 4c a share, an increase of 15 percent and 25 percent.
Cognition Holdings: Revenue slides on transition
Cognition Holdings, reported a 1. 31 percent decline in revenue to R62. 4 million as a result of the group’s transition from being listed on the Altx board to the main board of the JSE and changing its name to Cognitio
Jubilee Platinum: Middleburg plant a star performer
Jubilee Platinum achieved revenue in growth supported by the improved performances from the Middleburg smelter and power plant while further reducing overhead expenditure, the Altx-listed mining group said yesterday.
Uptick in durable retailer sales
Retailers of furniture, household appliances, electronic goods and hardware saw an uptick in sales growth over the past six months, despite the decline in unsecured lending, which was likely to carry over to the second qua
Formal sector salaries soar
South Africans working in the formal sector experienced a substantial increase in their salaries in February, a 4. 8 percent real growth since October.
Credit set to decline as law on lending becomes stricter
Debt Busters, one of the country’s largest debt management companies, has projected a drastic decline in the amount of credit granted, specifically by retailers in the next four months.
Randgold in the black after cutting costs
The exploration and mining investment company, Randgold & Exploration, said yesterday that it had spent the financial year to December last year focusing on reducing the company’s costs and in concluding some of
Cognition Holdings acquires major stake in BMi Sport
Cognition Holdings, formerly known as FoneWorx Holdings, has acquired 63 percent of BMi Sport Group for an undisclosed sum.
Raubex: Rise in earnings per share expected
The listed road construction and rehabilitation firm Raubex Group expected its earnings a share and headline earnings a share for the year ended February to be between 5 percent and 15 percent higher compared to the previo
Stenströms, Monatic deal to create jobs
A Swedish fashion label, Stenstroms, has partnered with the South African fashion group, House of Monatic, to manufacture shirts and blouses locally for Stuttafords stores.
HomeChoice targets Africa’s middle class
Direct marketing retailer HomeChoice seems to be making headway with its plans to grow business in Africa with plans to open its Pan-African office in Mauritius this year.
Sun in R9. 4bn offer for casino group Peermont
Hotel chain Sun International plans to buy out casino resort group Peermont for R9. 4 billion in line with the group’s strategy to enhance its existing portfolio and seek new growth opportunities, it said on Friday.
SA suspends citrus exports to Spain over black spot dispute
The Citrus Growers Association (CGA) has decided to suspend citrus exports to Spain until it is satisfied about testing for the citrus exports for black spot fungus to that country.
Spotlight on consumers as retail data disappoint
The sullen state of South African consumers was again cast into the spotlight yesterday as the latest retail sales figures for January came in weaker than expected, signaling the mounting pressure on consumer spending.