Business News Leaders

Will Master Drilling pilot the mobile tunnel-boring machine in SA

Drilling services company, Master Drilling released its annual numbers on Tuesday reporting a 14% rise in revenue, despite this, headline earnings fell nearly 8% while profit remained flat as the company battled a tougher than expected macroeconomic operating environment. Master Drilling CE Danie Pretorius spoke to Business Day TV about…

26 Mar 2019 3AM 7 min

Ecsponent to take full control of MyBucks

JSE-listed financial services group Ecsponent Limited, has concluded an agreement with the Frankfurt-listed fintech company MyBucks, which will enable Ecsponent to take full control of MyBucks. This comes as the company delivered its half year numbers on Tuesday, reporting a close to 82% decline in headline earnings per share. Ecsponent…

26 Mar 2019 3AM 7 min

How will Newco affect Naspers listing abroad

Multinational internet and media group, Naspers plans to form a new global consumer internet group - NewCo - comprising of all its internet businesses outside of the local market - NewCo's primary listing will be in Amsterdam with a secondary inward listing on the JSE. Naspers however retains its primary…

25 Mar 2019 6AM 6 min

Trump blames FED for limiting growth in 2018

The FED kept interest rates unchanged this week and intimated ​that there will be no hikes for the rest of the year. What does this tell us about the state of the US economy, emerging markets, currency and investment strategies? Head of Research at London Capital Group Jasper Lawler speaks…

22 Mar 2019 6AM 7 min

Record 48 parties to contest SA’s national election - IEC

Political parties contesting the May 8th election signed the IEC's code of conduct today and a record 48 parties have made it onto the ballot paper. What is the significance of the proliferation of the smaller parties as we head into a crucial election? Political Analyst Daniel Silke joins Business…

20 Mar 2019 3AM 7 min

Why the inflation rate increased for the first time in three months

February inflation inched up to 4.1% year-on-year from 4% in January, the first rise in three months sparked by food and transport price increases. January retail sales in the meantime recorded positive growth of 1,2% in January after a shock decline in December. Dennis Dykes the Chief Economist at Nedbank…

20 Mar 2019 3AM 8 min

Gordhan to come up with a revival plan for Medupi and Kusile

Public Enterprises Minister Pravin Gordhan, along with Eskom Executives briefed the media on Tuesday on the current electricity supply challenges and while many of the issues can be attributed to State Capture, not having maintained aging power plants may have been the starting point. Energy Analyst Ted Blom shares his…

19 Mar 2019 3AM 6 min

Sasfin’s headline earnings soar to R80.5M

Financial services group, Sasfin released its interim results on Tuesday boasting a near 60% rise in earnings due to an improved credit loss ratio and a lower tax bill. Costs are however growing faster than income with the group's cost-to-income ratio deteriorating to 74% fromjust over 70%. Sasfin CEO Michael…

19 Mar 2019 3AM 7 min

How did gaming and leisure contribute R9m to Grand Parade Investments’ earnings

Grand Parade Investments delivered its half year numbers on Monday and reported a 16% rise in headline earnings. The rise in earnings was largely driven by an increase of over R9 million in contributions from the gaming and leisure assets, but the groups investments in the food sector lagged. Grand…

18 Mar 2019 3AM 6 min

Sun International continues to achieve growth, despite a weak economy

Resort hotel chain and casino group, Sun International released its annual results on Monday reporting a 7% rise in group revenue. Adjusted headline earnings is up 4% while adjusted headline earnings from continuing operations fell 3% with Sun City's income falling by the same margin. The group has taken the…

18 Mar 2019 3AM 7 min

What attributed to SA’s banks reporting profit in 2018

Despite the slow economy South Africa's big 6 banks scored high profits in 2018, with their return on equities’ (ROE)s in at their highest levels since the global financial crisis. Ernest van Rooyen who is the Financial Services Africa partner at ‎Ernst & Young spoke with Business Day TV about…

15 Mar 2019 3AM 7 min

Exxaro rewards shareholders handsomely in 2018

Diversified miner, Exxaro reported its annual results on Thursday boasting record production, sales and exports from its coal mines which has helped lift overall earnings by 7%. The company’s revenue is up 12% while the total dividend sits at R10.85 reflecting an increase of 55%. Head of Finance at Exxaro…

14 Mar 2019 3AM 6 min

Why is the manufacturing sector likely to continue losing momentum

The manufacturing sector hardly recorded any growth in January, output was lifted by a tepid 0.3% year-on-year when the consensus expectation was a rise of 1.2%. The introduction of a carbon tax, above inflation cost increases in water and other administered services may exacerbate the industry's current position. Miyelani Maluleke,…

14 Mar 2019 3AM 7 min

Metair posted a 19% rise in full year net profit

Metair, has reported a 19% increase in annual net profit on Thursday. This was fuelled by a strong contribution from its overseas acquisitions, particularly in Turkey, where Mutlu Aku managed to outperform the Turkish Lira currency weakness. Metair CEO Theo Loock joins Business Day TV to discuss the company's full…

14 Mar 2019 3AM 7 min

Libstar declares its maiden dividend of 22c

Food producer Libstar Holdings has reported a 16% percent fall in full-year normalised earnings - hit by a writedown on its niche beverages business. Libstar Holdings CFO Robin Smith joins us in studio now with more of the detail behind its performance - which despite getting a mere "satisfactory" rating…

13 Mar 2019 4AM 5 min

MPACT’s full year revenue is up to R10.6bn

Packaging manufacturer Mpact's reported a 47% surge in underlying operating profit driven by an upgrade of its Felixton paper mill, lower recovered paper prices and increased corrugated packaging sales. The company expects further improvement in the paper business but warns that the introduction of a carbon tax and higher electricity…

13 Mar 2019 4AM 7 min

Internationalisation drives Growthpoint’s earnings

Internatinalisation is paying off for Growthpoint. The country's largest primary listed REIT reported a 5.9% rise in interim distributable income largely driven by the company's investments in Australia and Central Eastern Europe while the domestic market recorded no growth. Growthpoint properties says it will have to rely on its international…

13 Mar 2019 4AM 7 min

FirstRand says it will continue investing in long term strategies

Despite a challenging economic backdrop, First Rand has delivered a rise in interim profit. The financial services group's normalised earnings grew 7% during the period. That is thanks to what it calls 'impressive' results from the group's retail and commercial banking unit - FNB. Earnings at FNB jumped 13% due…

12 Mar 2019 3AM 8 min

Group Five shares suspended at 89c per share

Group Five has joined some of its peers in business rescue after lenders pulled the plug on funding with the company adding that it sees a slim chance of any value realisation for its shareholders. Business Day TV reached out to Group Five and the appointed business rescue practitioners and…

12 Mar 2019 3AM 6 min

SA cannot afford free tertiary education says World Bank

According to the World Bank, the cost of post-school education and training will more than double to over R172 billion by 2022 which the fiscal purse will not be able to carry and which will not result in more skills to the economy. In the meantime Adam Habib's latest book,…

11 Mar 2019 3AM 6 min