Business News Leaders

Growth will disappoint in 2019

Well with the maiden budget tabled and GDP growth forecasts revised down to 1.5%, rising debt levels and further support for Eskom, is this a balanced budget? Kevin Lings, Chief Economist at Stanlib joins us with his perspective.

20 Feb 2019 1AM 6 min

Government ups contingency reserve to R13bn to help SOEs

According to Finance minister, Tito Mboweni, today's budget policy statement is set to place South Africa on a bold new path, and joining me on the line now to weigh in on this is Razia Khan from Standard Chartered.

20 Feb 2019 1AM 5 min

Govt to 'support' Eskom with R23BN for 3-years

During Minister Mboweni's Press Conference earlier before he tabled the maiden budget speech, he mentioned that we're the masters of our own destiny, he made reference to it again during the actual speech - Giulietta caught up with Deputy Finance Minister, Mondli Gungubele and asked if we are really in…

20 Feb 2019 1AM 11 min

High fuel costs weigh on Comair’s earnings

Comair's released its interim results today reporting a 38% nosedive in headline earnings per share, revenue however increased by a record 12% which was offset by high fuel costs while cash generated from operations plunged 30%. Erik Venter, CEO of Comair joins us for perspective on the numbers.

19 Feb 2019 1AM 7 min

Kumba FY earnings down on revenue dip, lower sales

Kumba Iron Ore released its full-year results today reporting a marginal dip in headline earnings per share driven by a 1% fall in revenue and a 4% decline in total sales. The company has however declared a final dividend of R15.73 bringing the total payout to R30.24, that representing a…

19 Feb 2019 1AM 7 min

Anglogold reports higher annual earnings

Miner, Anglogold Ashanti delivered solid annual results today. That's as headline earnings per share surged over 7 fold to 53 US cents - fuelled by lower amortisation after the closure and sale of some of its assets, as well as a higher income from its Kibali operations. We're now joined…

19 Feb 2019 1AM 6 min

Audit firms protest IRBA's possible search and seizure powers

If National Treasury's proposed amendments to the Auditing Profession Act is passed, the Independent Regulatory Board for Auditors may gain search and seizure powers. This will allow the audit watchdog to enter the premises of auditors without prior consent or notice if accompanied by a warrant issued by a court…

18 Feb 2019 1AM 6 min

Amplats FY profit surges on higher prices, improved ops

Amplats has declared a final payout of R7.51 which is more than double last year's amount and brings the total for the year to R11.25. This comes as Amplats changes its dividend payout ratio from 30% to 40% of headline earnings. A decision CEO Chris Griffiths says was made due…

18 Feb 2019 1AM 8 min

South Deep weighs on Gold Fields FY performance

Gold fields saw a large drop in earnings in its 2018 year to December. Revenue was in at 2.57 billion dollars - that’s 7% lower than last year, as production at its only SA operation, South Deep, declined. That left HEPS from continuing operations to come in at 7 US…

17 Feb 2019 2AM 6 min

Taxing issues: what to expect from Budget 2019

Tax collection is the only way that government generates revenues and National Treasury is already struggling to close a revenue shortfall of over R27 billion, with revenue collection deteriorating significantly. So, what are the plugs likely to be this time - given that the VAT hike has already been pulled…

14 Feb 2019 2AM 7 min

Minister Mboweni to trim deficit on growth hopes - Poll

During the mini-budget in October, Finance Minister, Tito Mboweni increased the budget deficit forecast to 4.3% from 3.8% for the 2018/19 financial year. A Reuters poll however suggests that he is likely to appease ratings agencies by trimming that forecast on growth hopes but with the high risk that Eskom…

14 Feb 2019 2AM 7 min

Italtile posts 30% jump in H1 revenue

Italtile released its interim numbers on Thursday, reporting a 30% surge in revenue. Partly fuelled by the upper-LSM segment which remained relatively resilient in a tough trading environment. And this further translated in a 12.6% rise in headline earnings per share to just over 54cents. We're now joined by CEO,…

14 Feb 2019 2AM 7 min

Emira’s turnaround strategy boosts H1 performance

Well Emira Property Fund's turnaround strategy has continued to assist the group deliver solid results. That's as distributions for the first half increased by 3.1% year-on-year, despite challenging local conditions. We're now joined by CEO, Geoff Jennett to discuss where things are at…

13 Feb 2019 1AM 5 min

Power outages lower DRDGold’s H1 output

Miner, DRDGold released its interim results today reporting a headline loss of over R46 million, operating profit plunged by 54% while revenue remained flat at R1.25 billion. Gold production fell by 3% while reserves shot up by 83% with the company upping its full-year output target to between 157 and…

13 Feb 2019 1AM 7 min

CURRO rewards patient investors, declares maiden dividend

Private education group, Curro released its full-year results today boasting a 23% jump in headline earnings from continuing operations while revenue grew 19%, this boosted by an increase in learner numbers of 12% during the period. The company has declared a maiden dividend of 12 cents and CEO, Andries Greyling…

13 Feb 2019 1AM 7 min

SA's unemployment rate falls to 27.1% in Q4

The fourth quarter unemployment rate sits at 27.1%, still high but a marginal improvement from 27.5%. Meanwhile youth aged between 15-34 who are not in employment, education or training increased by 0.5 of a percentage point to 38.9%. Now last year, President Ramaphosa launched the Youth Employment Services program to…

12 Feb 2019 6AM 7 min

Market Wrap- Stock Pick - Discovery Ltd:

Devin Schutte from The Robert Group chose Discovery Ltd one that he has chosen previously, Discovery is a very placed company at the moment. We are all aware of their shared value model, healthcare, life insurance and the short term insurance. The launch of the bank happens next month and…

12 Feb 2019 6AM 14 min

Accounting entries hammer Harmony’s H1 profit

Miner, Harmony Gold released its interim results today reporting a 94% plunge in headline earnings per share, WHILE net profit tumbled 91%. the declines are largely attributed to the writing off of money spent on Hidden Valley which is in commercial production. But the inclusion of this mine along with…

12 Feb 2019 6AM 7 min

Passive Investing Movement gained steam in 2018 - Morningstar

According to Morningstar, investment passive U.S equity funds could soon overtake their active peers. So for more detail on the latest investing innovations and where passive investing fits into the South African landscape we're now joined by S&P Dow Jones Indices CEO, Alex Matturri.

11 Feb 2019 1AM 4 min

Eskom remains major risk to SA finances - Moody’s

Ratings agency, Moody's has criticised President Ramaphosa's State of the Nation Address for its lack of concrete policy steps and further pointed out that plans to unbundle Eskom into three entities will do very little for the utility's financial challenges. We spoke to Lucie Villa, Lead Sovereign Analyst for South…

11 Feb 2019 1AM 8 min