Latest News & Developments
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Raubex Group predicts solid earnings growth amid new contracts including Parliament repair
Raubex Group's share price rose over 8% on the JSE following a positive earnings forecast, with significant new contracts, including a R1. 98 billion project to upgrade the Parliament buildings in Cape Town
Astral Foods warns interim profits to plunge even lower on R20 million cyber attack
Astral Foods anticipates a significant drop in earnings due to a recent cyber attack and ongoing market challenges.
Momentum Group leads the pack after all its businesses report strong interim growth
Momentum Group's share price surged over 10% following a remarkable 44% increase in normalised headline earnings to R3. 4 billion for the six months ending December 31, showcasing strong performance across all business units.
Earnings threshold to expand the pool of 'protected' employees
From April 1, 2025, the earnings threshold in South Africa will rise to R261 748. 45, granting greater labour protections to more employees. This article explores the implications for employers and the protections afforded to those earning below the new threshold
Weaver Fintech drives Homechoice's strong financial performance, with revenue up 21%
Homechoice International has reported a remarkable 21% increase in revenue for the year ending December 31, driven by the success of its subsidiary Weaver Fintech
Mpact reports lower profit but healthier balance sheet and strong cash flows
Mpact, Southern Africa's largest paper and plastics packaging business, navigates a challenging economic landscape while reporting a decline in profits but strong cash flow and strategic investments for future growth
Transnet Pipelines strengthens theft response with new tariff adjustments
Transnet Pipelines receives approval for a 7. 83% tariff increase to combat escalating theft and enhance security measures, while facing financial challenges and asset value fluctuations. NERSA's decision enables R7. 84 billion in allowable revenue for 2025/26, supporting critical infrastructure protection.
Rainbow Chicken's turnaround strategy starts to yield impressive financial results
Rainbow Chicken's share price surged after reporting a staggering 1,348. 8% increase in headline earnings for the first half of the financial year, driven by operational improvements and robust demand for value-added products.
Iron ore prices expected to decline amidst supply growth, weak Chinese demand - African Rainbow Minerals
African Rainbow Minerals executives predict a decline in iron ore prices due to supply growth and softening demand from China, while long-term prospects for platinum group metals remain optimistic
Exxaro Resources reports decline in headline earnings per share amid lower iron ore prices
Exxaro Resources anticipates a significant decline in headline earnings per share due to lower iron ore prices and increased operational costs, as the company faces leadership changes and market challenges.
Grindrod cuts dividend by 55% due to border disruptions, lower commodity prices
Despite challenges, Grindrod's CEO highlights growth opportunities in logistics infrastructure as the company navigates a tough market
Curro Holdings faces 6. 9% share price drop amid declining learner numbers
Curro Holdings reports a 6. 9% decline in share price due to a decrease in learner enrolment, despite an increase in dividends and revenue
Shoprite sales volumes surge 10. 4% as it navigates tough market conditions
While its rivals flounder, shift towards budget offerings and rationalise operations through closure of non-performing stores, Shoprite is growing its footprint. This is helping it trump up the competition, with sales volumes for the first month of the current second half year to June registering a further uptick.
Motus Holdings delivers steady interim results amidst fluctuating market dynamics
otus Holdings demonstrates resilience with a 2% dividend increase and 3% growth in headline earnings, despite challenging market conditions. The automotive giant maintains a 20. 3% market share in South Africa while adapting to shifting consumer preferences towards pre-owned vehicles.
Implats faces production decline as earnings drop by up to 44%
Impala Platinum reports a 4% decrease in 6E production and up to 44% decline in earnings for the December half-year, following labour restructuring and operational challenges. The company faces decisions about its Canadian operations while advancing strategic projects across its portfolio
Harmony Gold poised for strong interim earnings boost amidst soaring gold prices
Harmony Gold anticipates substantial growth in interim earnings up to 42%, driven by higher gold prices and operational excellence, despite rising production costs and increased taxation. The company's strategic investments and disciplined capital allocation have positioned it to capitalize on favourable market conditions.
Banking CEOs Earn Millions While South Africans Get Poorer: A Stark Reality
As South Africans sink deeper into poverty, it is not enough for banking executives to sit comfortably atop their ivory towers. The obscene levels of executive pay amidst widespread poverty and unemployment must be challenged, writes Independent Media Editor-in-Chief Adri Senekal De Wet.
This is how much Kaizer Chiefs will pay new coach Nasreddine Nabi
Nasreddine Nabi is expected to earn more than Mamelodi Sundowns’ Rulani Mokwena as the PSL’s highest paid coach when he finally completes his move to Kaizer Chiefs.
Covid-19 forces SA bank earnings to fall sharply in 2020-PwC
The combined headline earnings of South Africa’s major banks fell by 48. 4 percent to R43. 6bn in the 2020 financial year, says PwC.