Business News Leaders

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

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