Business News Leaders

Sars warns that SA could be on the brink of a tax revolt

The tax Indaba kicked off today with a broad focus on tax policy, rejuvenating government and the economy. Addressing the Indaba, Sars Commissioner, Edward Kieswetter has warned that the country could be on the brink of a tax revolt adding that if Sars fails, democracy ultimately fails. He joined Business…

26 Aug 2019 2AM 8 min

Northam Platinum reports record annual operating profit

Northam Platinum has delivered a solid annual performance which was underpinned by a surge in metal prices, improved performance and low costs. The miner reported a 41% jump in revenue while operating profit trippled, hitting a record high of R2.4billion. Joining Business Day TV for some analysis on the numbers…

23 Aug 2019 2AM 7 min

What is business doing to ensure gender parity?

According to a report by the 30% Club Southern Africa chapter, just 10% of 267 JSE-listed companies analysed have achieved gender parity on their boards. In the meantime we've also had two female CEO's step down this year, and this has further highlighted the limited amount of South African women…

23 Aug 2019 2AM 7 min

Italtile declares special dividend thanks to excess cash

Italtile has weathered a tough retail environment and deliver another consecutive year of growth, with trading profit coming in 18% higher - boosting net cash on its books - and seeing the group declare an additional dividend of 50 cents per share. Joining Business Day TV for some detail on…

22 Aug 2019 2AM 7 min

Rating Ramaphosa's measures on unemployment, growth

South Africa's expanded definition of unemployment sits at a record high of 38.5% and is the biggest risk facing the country at the moment says President Ramaphosa as he faced questions in parliament around tackling that crisis level and boosting growth, highlighting that interventions are in place, with the next…

22 Aug 2019 2AM 7 min

Asset sales allow Exxaro to declare special dividend

Diversified miner, Exxaro reported a 42% jump in interim headline earnings per share and this despite coal and other commodity pricing declining sharply over the period - majority of its coal operations still reporting profitability but bulk of the lifting coming in from the miner's equity investments and asset sales…

22 Aug 2019 2AM 8 min

Inflation eases to 4% in July

Inflation has cooled to 4% in July, this being below the midpoint of the Sarb's target range of between 3 to 6%. Joining Business Day TV to discuss whether the latest print puts pressure on the Sarb to cut rates yet again, as the global easing cycle continues to gain…

21 Aug 2019 2AM 4 min

Inflation falls below market expectations in July

Despite the implementation of Eskom's Nersa approved average price increase of 15.63% for municipalities, inflation continued to drop to 4% in July. Business Day TV sat down with Senior Economist at NKC African Economics Elize Kruger to talk about the print in greater detail and what it potentially means as…

21 Aug 2019 2AM 7 min

Sasol tanks as Lake Charles woes pile up amid market backlash

Integrated energy and chemicals company, Sasol stands accused of having shared price-sensitive information with certain investors relating to cost overruns and startup delays at its Lake Charles chemical plant in the US - a claim which the company denies. Patrice Rassou, Head of Equities at Sanlam Investment Management talks to…

21 Aug 2019 2AM 7 min

Carbon tax batters Harmony Gold

Harmony Gold's investment in Moab Khotsong and Hidden Valley is paying off. Strong contributions from these mines along with lower impairments have resulted in a narrower annual loss with the Carbon Tax stealing some of that shine.Revenue however jumped by 32% and headline earnings grew 19%. The miner is looking…

20 Aug 2019 2AM 7 min

Shoprite weathers a testing year

Retailer, Shoprite's local supermarket division performed well during its full-year but not enough to offset losses in its rest-of-Africa operations. The group reported a near 20% fall in basic headline earnings per share as its international supermarkets division reported a trading loss of R265 million. The group has warned that…

20 Aug 2019 2AM 6 min

NHI not a deathblow to medical aid schemes - Discovery

Financial services group, Discovery's valuation has fallen partially due to concerns around the impact of the NHI Bill on private healthcare providers - and while the company supports the bill and doesn't believe that it means the death its industry, it does warn that the restrictions it places on medical…

19 Aug 2019 2AM 9 min

Soft commodity returns hit biggest losing streak in 2-years

A gauge of soft commodity returns just capped its longest run of weekly losses in over two years, last week. That's as signs of ample supply of coffee and sugar collide with demand concerns. Joining Business Day TV on the line with his perspective is Senior commodity analyst at Rabobank,…

19 Aug 2019 2AM 4 min

Ramaphosa signs controversial debt-relief bill into law

President Cyril Ramaphosa has signed into law the controversial debt-relief bill. The legislation provides for the extinguishing of the debt of heavily indebted consumers who earn a gross monthly income of no more than R7500, have unsecured debt amounting to 50 thousand rand and who have been found to be…

16 Aug 2019 2AM 10 min

Acquisitions boost ARB Holdings' annual revenue

New acquisitions have helped ARB holdings boost its annual revenue by 4.5% to R2.7 billion. But headline earnings per share fell by 18.8% as the company beared the brunt of a slowing economy. ARB CEO, Billy Neasham talks to Business Day TV about their latest results.

15 Aug 2019 2AM 6 min

Gold Fields returns to profitability

Goldfields has bounced back in the first half of the year, the miner turned net cash flow positive earlier than expected as it swung from a loss of 367 million dollars to a profit of 71 million dollars and as a result, the interim dividend has tripled. The company expects…

15 Aug 2019 2AM 7 min

Truworths continues to battle against difficult trading conditions

Retailer Truworths, released its annual numbers on Thursday and while sales ticked up by nearly 4%, diluted headline earnings fell by 8.5% while trading profit took a knock of 80% as the company cut the value of its UK business, Office London by over a third. Company's CEO, Michael Mark…

15 Aug 2019 2AM 8 min

Metair delivers 21% rise in first-half HEPS

Real volume growth and higher value component opportunities has helped automotive parts maker, Metair shrug off tough economic challenges during the interim period - as a result, the company's reported a 19% rise in revenue, a 21% jump in earnings growth while the interim dividend grew by 25%. Metair CEO,…

14 Aug 2019 2AM 5 min

How Emira's turnaround strategy is paying off

Emira property fund's turnaround strategy has been paying off, that's as it managed to deliver distribution growth for a second consecutive year - coming in 3.1% higher. This is despite the tough trading conditions experienced in South Africa. Business Day TV sat down with the company's CEO, Geoff Jennet for…

14 Aug 2019 2AM 5 min

Curro's mid-year report card boasts double-digit growth

Independent education group, Curro's mid-year report card boasts a 19% increase in revenue and a 44% surge in headline earnings as learner numbers rose by 13%. Net finance costs however grew by 49% and the company expects its investment on expansion and replacement of assets to cost R1 billion this…

14 Aug 2019 2AM 8 min