Business News Leaders

Cartrack cuts dividend as it plans to invest for growth

Cartrack has cut its final dividend for the year to end-February, despite higher profits, as it plans to “invest for growth”. The company's subscriber base grew 28% to 960,798 in the year, helping it lift profit after tax by 16.3% to R361m. But Cartrack cut its final gross dividend to…

28 May 2019 2AM 6 min

Telkom beats annual profit expectations

Telkom has reported an 8.5% rise in earnings before interest, tax, depreciation and amortisation (ebitda) to R11.3bn. According to Bloomberg data, analysts expected ebitda of R10.9bn. Profit after tax rose 11.5% to R3.3bn and the group said it will pay a final ordinary dividend of 249c, taking the full-year dividend…

27 May 2019 2AM 9 min

Ramaphosa to announce a leaner cabinet later this week - Presidency

It was widely speculated that President Ramaphosa would have announced his cabinet by now but it appears that he may need more time to apply his mind given the factions within the party, issues around the announcement of a Deputy President and Minister Gordhan's showdown with the Public Protector while…

27 May 2019 2AM 5 min

Who will Ramaphosa pick for his new cabinet?

President Cyril Ramaphosa is expected to announce his cabinet this weekend, most likely with a number of significant changes. That's as he plans to merge departments as a way to cut back on ministries and as a result most deputy minister positions are likely to be axed. Business Day TV…

24 May 2019 3AM 6 min

South Africa's Reserve Bank has kept interest rates on hold

As widely expected, the South African Reserve Bank kept the repo rate unchanged at 6.75%, as it contends with a weak economy and lower inflation. The bank's also lowered its 2019 growth forecast to 1%, citing weak business and consumer confidence, as well as growing pressure on household disposable income…

23 May 2019 2AM 8 min

Higher iron ore prices boost Afrimat's full-year earnings

Afrimat's delivered double digit growth in full year earnings, partly fueled by higher iron-ore prices , which helped offset a poor showing from its construction-materials division. Afrimat CFO Pieter de Wit provides more insight into the performance.

23 May 2019 2AM 4 min

SA's 6th parliament takes shape as MPs are sworn in

Cyril Ramaphosa has been elected as president of South Africa following the first sitting of the National Assembly. This comes after ANC deputy president David Mabuza took the decision to postpone his swearing-in, following the integrity commission's report naming him as one of those who had possibly brought the party…

22 May 2019 2AM 7 min

April inflation slows to 4.4%

South African consumers have tightened their purse strings. That's as April's inflation rate came in at 4.4% year-on-year, falling just below the midpoint of the SARB's target range for the first time in 3 months.Nedbank Senior Economist Nicky Weimer joined Business Day TV with her views on where inflation is…

22 May 2019 2AM 7 min

JSE proposes changes to listing requirements

The JSE is finally hammering out a new set of standards that will improve overall listings requirements. Despite this Futuregrowth and ASISA have been pushing for these proposed reforms to also be implemented within the fixed income arena. Andrew Canter from Futuregrowth joined Business Day TV to discuss how these…

22 May 2019 2AM 5 min

Will US-China trade war fuel next global financial crisis?

Heightened trade tensions between the US and China has sparked fears that it may fuel the next global financial crisis. Talks to end the trade conflict fell apart earlier this month and US President Donald Trump has no intentions of returning to the negotiating table anytime soon and has vowed…

21 May 2019 10AM 8 min

Coronation slashes dividend as asset outflows dent profits

Asset manager, Coronation released its interim results on Tuesday reporting a 22% decline in revenue fueled by a drop in average assets under management during the period. The combined effect of this leading to a 26% plunge in earnings and dividends, the group however expects a better second half.Business Day…

21 May 2019 2AM 7 min

Barloworld hikes dividend as equipment sales boost profit

Barloworld has hiked its interim dividend 13.8% after earnings grew thanks to better equipment sales in Southern Africa. The group has also announced that it's in acquisition talks with Wagner Asia Group, a Mongolian-based equipment dealer. Business Day TV sat down with Barloworld's CEO Dominic Sewela to discuss the group's…

20 May 2019 2AM 10 min

Pioneer Foods struggles to pass on higher costs to consumers

Pioneer Foods has reported a 15% plunge in interim adjusted headline earnings to R506m even as revenue rose 11.5% to R11bn as the group struggled to pass on higher costs to consumers. Business Day TV caught up with Pioneer Foods CEO Tertius Carstens for a closer look at the numbers.

20 May 2019 2AM 5 min

Turnaround strategy pays off for Adcorp

Workplace management group, Adcorp's turnaround strategy is starting to bear fruit as the company has returned to profitability in its full-year and has also resumed dividend payments after two years. Adcorp CEO Innocent Dutiro joined Business Day TV to discuss the company's new growth trajectory.

20 May 2019 2AM 7 min

Election results set to boost commercial property prices

South African house prices could get a much-needed boost, if history is anything to go by. Analysts say that the elections will cause a rebound in the property industry as has been the case in previous years. But, this may only be seen later this year, after the seasonally quiet…

17 May 2019 2AM 7 min

Retail sector takes strain as consumers battle headwinds

The retail sector barely grew in March as sales ticked higher by a tepid 0.2%. The print reflects the fact that consumer confidence dipped to its lowest level since 2017 in the first quarter. So how are local retail players managing to survive this tough environment? Business Day TV spoke…

16 May 2019 2AM 6 min

Challenging time ahead for SA, says Moody’s

Ratings agency Moody's says that South Africa faces significant challenges in raising growth and as such, expects the economy's long-term growth outlook to remain weak. The organisation's Lead Sovereign Analyst for SA Lucie Villa joined Business Day TV to discuss the challenging time ahead for South Africa.

16 May 2019 2AM 4 min

Investec battles Brexit, weak SA economy

South Africa's sluggish economy and uncertainty around Brexit is weighing on Investec but despite these headwinds the group has managed to deliver a 3.6% rise in adjusted earnings per share for the full-year. Joint-CEO of Investec Fani Titi spoke to Business Day TV about the pressure points in the company's…

16 May 2019 2AM 8 min

Spar's plans to expand in Europe are progressing

Retailer, Spar released its interim results today reporting a revenue increase of 9%, group turnover is up by a similar margin at 8.6%, turnover from its biggest market, Southern African grew 7.7% despite weak consumer spending and low inflation levels. The group is however expanding its international footprint, this time…

15 May 2019 2AM 6 min

Sorbet chain boosts Long4Life’s annual performance

Long4Life's bet on Sorbet is paying off. The beauty and grooming business grew annual revenue 19% to reach the R100mn mark for the first time. This performance, which Long4Life says “exceeded expectations”, helped the group report a surge in total revenue to R3.6bn. Business Day TV caught up with Long4Life…

15 May 2019 2AM 7 min