Business News Leaders

Bulk of Gauteng’s budget allocated health, education and social services

Gauteng Finance MEC, Barbara Creecy's provincial budget for the 2019, 2020 financial year has increased by over 7% to just above R132 billion. The bulk of the budget has been allocated towards the department of health, education and social services while provision has also been made for struggling municipalities. The…

5 Mar 2019 1AM 7 min

Rest of Africa growth to outpace SA - Nedbank

Financial services group, Nedbank released its annual results on Tuesday reporting a near 15% rise in earnings which was largely driven by its West African partner's turnaround - Ecobank. It bounced back from a loss of R975 million to a profit of R375 million. The group adds that its rest…

5 Mar 2019 1AM 7 min

Consumer centric approach sees a rise in Clovers headline earnings per share

Branded consumer goods and beverages group, Clover released its interim results on Tuesday reporting a 4% rise in revenue and a 5% increase in headline earnings, while cost of sales along with distribution costs rose as sugar taxes and a sharp increase in the fuel price weighed. Last month a…

5 Mar 2019 1AM 7 min

Bidvest continue to grow despite a weak economy

Bidvest has produced what it calls 'a good result' despite the frail economy. The company reported a 10% rise in interim headline earnings and has increased its interim dividend by 10,6%. That as higher margins made up for a slight up-tick in revenue. Bidvest’s CEO Lindsay Ralphs spoke to Business…

4 Mar 2019 1AM 7 min

Edcon recapitalised for R2,7 billion

Business day's retail writer Larry Claasen described Edcon as too big to fail and indeed, it's not often you see lenders, unions, the public investment corporation and landlords coming together to support a retailer, which in this case they've done with a 2.7 billion rand recapitalisation. So what now? Joining…

4 Mar 2019 1AM 7 min

Sugar and chicken units weigh on RCL Foods’ full year performance

RCL Foods remains exposed to all the the sharp edges of the SA economy - frail consumers, high unemployment, oversupply (thanks to overseas players dumping their product here), high feed costs, and high logistics costs. Throw in the brand contagion from last year's listeriosis crisis and the only bright area…

4 Mar 2019 1AM 5 min

How the JSE plans to deal with competitors

The JSE has had to reset itself with the entry of new players in its market. The company successfully cut their own operating costs by 7% in 2017, 1% in 2018 and they continue to keep a tight handle on cost control. JSE CFO Aarti Takoordeen spoke to Business Day…

1 Mar 2019 2AM 7 min

What caused the drop in revenue at African Rainbow Minerals

Diversified mining group African Rainbow Minerals reported interim earnings today. The company’s revenue was down by just over 5% to R4.5 billion. Headline earnings (HEPS) were up 13% to R2.2 billion. African Rainbow Minerals CEO Mike Schmidt spoke with Business Day TV about their interim earnings results and outlook for…

1 Mar 2019 2AM 7 min

Impala Platinum is back in the black

Mining company Impala Platinum has swung to an interim profit on account of a weaker rand, a higher metals basket price and increased output. Revenue surged by 36% while headline earnings came in at R3.10 as the company nears its first asset disposal. Impala Platinum CEO Nico Muller joins Business…

28 Feb 2019 1AM 6 min

What contributed to Massmart’s slump in full year headline earnings?

Retailer, Massmart reported its annual results today. Recording a slump of over 31% in headline earnings. The slump is due to lower than expected sales and a higher expense growth. As a result, the group has slashed its dividend by over 40% to 208 cents. Business Day TV spoke with…

28 Feb 2019 1AM 6 min

How is EOH dealing with devious behaviour

EOH has fallen from its glory days and while management is racing against the clock to restructure the business, continuous revelations of dubious partners and tender corruption are overshadowing the process. EOH CEO Stephen Van Coller joins Business Day TV to discuss how the company intends to bounce back from…

28 Feb 2019 1AM 7 min

What will post-Brexit deal look like for South Africa

Brexit's D-Day may be shifted, Britain's MPs will vote on the decision on Wednesday, but SA’s Minister of Trade and Industry, Rob Davies hopes to seal a post-Brexit trade deal for South Africa within the next few days. Minister of Trade and Industry Rob Davies spoke with Business Day TV…

27 Feb 2019 2AM 5 min

Multichoice has made its JSE debut and soared 16% throughout the day

Following its unbundling from Naspers, Multichoice Group listed as a separate entity on the JSE on Wednesday morning, trading at R95 a share. The company includes MultiChoice South Africa, Multichoice Africa, Showmax Africa and Irdeto. The Independent Communications Authority of South Africa (ICASA) has noted the event with concern. That's…

27 Feb 2019 2AM 7 min

Why Shoprite’s earnings dropped for the first time in 10 years

Shoprite released its interim results today reporting a 24% plunge in diluted headline earnings per share due to supply challenges in the domestic market and currency devaluation in Angola - which helped fuel a trading loss in the company's rest of Africa division. As a result, the interim dividend has…

26 Feb 2019 2AM 8 min

What lies ahead for Cashbuild in 2019

Retailer of building materials and associated products, Cashbuild released its interim results today. Their revenue is up 3% but that was offset by a 7% increase in operating expenses resulting in an 11% drop in earnings. Still The company says that it will continue its store expansion, relocation and refurbishment…

26 Feb 2019 2AM 7 min

Why the AGRI sector could be our next Eskom

While Minister Mboweni's budget mentioned support for emerging farmers and private sector investment into the sector, a stern warning has emerged about the lack of investment in infrastructure such as roads, ports and rail which supports agriculture. Paul Makube who is a Senior Agricultural Economist at FNB Agri-Business, warns that…

25 Feb 2019 2AM 7 min

Super Group revenue fuelled by commodities businesses

Super Group released its first half numbers today, delivering an 8,2% rise in revenue - fuelled by a strong performance from its commodities businesses within Supply Chain Africa. This translates into a 12% increase in headline earnings per share to 174 cents. Business Day TV spoke to Super Group CEO…

25 Feb 2019 2AM 6 min

Will Sasol’s Lake Charles project be completed in time

Integrated energy and chemicals company, Sasol released its interim results today boasting a 32% jump in headline earnings per share largely driven by a rebound in oil prices for most of last year along with a weaker rand dollar exchange rate. The group has also raised its interim dividend by…

25 Feb 2019 2AM 6 min

How the new budget policy will affect your personal finance.

According to the Finance minister, Tito Mboweni, Wednesday's budget policy statement is set to place South Africa on a bold new path. John Mayike, who is the Head of Financial Education at Old Mutual joined Business Day TV to weigh in on this matter from a personal finance perspective.

22 Feb 2019 1AM 7 min

European markets boost Bidcorps H1 earnings

Bidcorp has reported a 9.2% rise in interim headline earnings per share thanks to what it calls a standout performance from Europe. The food services group has reported a 9.2% rise in interim headline earnings per share. Joining Business Day TV on the line to take a closer look at…

20 Feb 2019 1AM 5 min