Business News Leaders

Momentum Metropolitan flags economic risks

Insurer, Momentum Metropolitain has seen a 53% spike in normalised headline earnings and that's thanks to cost cutting and new business growth. The company is aware that cost cutting can only do so much and says that it will focus on revenue growth moving forward but the group has warned…

4 Sep 2019 2AM 6 min

Core businesses boost Libstar's half-year earnings

Libstar's reported revenue up 4.6% for the half year - fuelled by organic revenue growth as demand for baked goods increased and spice exports took off. That's further translated into a 12.4% jump in normalised headline earnings per share. Business Day TV spoke to CFO Robin Smith for more of…

4 Sep 2019 2AM 5 min

Discovery ploughs money into new businesses

Discovery's annual earnings have fallen by 12% and that's as costs of its newly launched bank weigh. But it HAS ALSO helped see new business premium income grow 13%. And the company says it has plans to scale back on new business spend moving forward. Looking at 'old business', Discovery…

4 Sep 2019 2AM 5 min

DRDGold rewards shareholders as new tailings project investment bears fruit

DRDGold's decision to withhold its final 2018 dividend, after paying a 5c interim one, to invest in the Far West project is now paying off threefold. That's with its having declared a 20c per share dividend for the 2019 FY - on the back of revenue up 11%... and Post-tax…

3 Sep 2019 2AM 7 min

Why roads down under led to a plunge in profit for WBHO

Construction group, WHBO is battling down under. The company has posted a 16% rise revenue but cost overruns at a roads project in Australia has offset gains from its African and UK operations leading to a 56% plunge in operating profit. Company's Chair, Mike Wylie joined Business Day TV for…

3 Sep 2019 2AM 7 min

SA's economy rebounds in second quarter

The economy has dodged a technical recession. That's as the country's GDP expansion outpaced analyst expectations with a rebound of 3.1% in the second quarter. The bulk of the heavy lifting has come from the mining sector which registered grew of over 14%. Business Day TV sat down with Citadel's…

3 Sep 2019 2AM 7 min

Bidvest eyes more acquisitions despite tough conditions

Bidvest says its looking to make more large-scale investments in South African despite a tough economic environment. The services, trading and distribution group believes it has significant headroom to continue the group’s strategy of growth in its existing markets, as well as continuing to acquire divisional bolt-on business, and to…

2 Sep 2019 2AM 6 min

Old Mutual pledges R2.4bn to buy back more 'undervalued' shares

Old Mutual plans to spend R2.4bn on buying back its own "undervalued" shares. “The board believes that the share price is trading at a discount to its intrinsic value and is of the view that a share repurchase programme will deliver longer-term incremental value to shareholders,” the group’s statement reads…

2 Sep 2019 2AM 6 min

Land Bank maintains strong balance sheet despite policy uncertainty

The Land and Agricultural Development Bank of South Africa says its balance sheet is strong given that its capital adequacy ratio sits at 16.4% and its net stable funding ratio is at 102%. The bank has also managed to deliver an annual net profit of R130.6mn despite facing sector wide…

2 Sep 2019 2AM 7 min

African Rainbow Minerals reports 9% rise in annual headline earnings

African Rainbow Minerals has reported a 9% jump in annual headline earning. The performance was supported in part by a run in iron ore prices during the period. The company has also taken the decision to put its joint venture Nkomati nickel mine on care and maintenance from September 2020,…

30 Aug 2019 2AM 6 min

AdvTech keeps dividend unchanged despite profit jump

Despite a surge in profits, listed private schooling group AdvTech, has decided to preserve cash by maintaining its dividend payout at 15 cents per share. Business Day TV sat down with CEO Roy Douglas for more insight on why the company has made this move.

29 Aug 2019 2AM 5 min

What Woolworths plans to do to save David Jones

David Jones has dragged Woolworths into another loss. This as the retailer had to cut the valuation of the Australian department store yet again. On the other hand, sales in the company's local business picked up with the struggling fashion business returning to sales growth. The group expects the clothing…

29 Aug 2019 2AM 8 min

Sibanye eyes return to dividends in 2020

Diversified miner, Sibanye-Stillwater has reported a headline loss per share of 54 cents. That's as a five month strike in the gold sector weighed. But the miner is hoping for a more positive performance in the second half and has hinte dthat it could return to paying dividends in 2020…

29 Aug 2019 2AM 7 min

How Tito plans to save SA's economy

Finance Minister, Tito Mboweni's release of the economic policy paper for public comment is about politics - the last minute decision to release the document hints at internal disagreements. Business Day's Editor, Lukanyo Mnyanda shared his reading of Mboweni's surprise move and Duncan Pieterse, who was part of the team…

28 Aug 2019 2AM 8 min

BidCorp's UK business boosts profits

Food-services group Bidcorp delivered solid full year results today, with continuing headline earnings per share coming in stronger, up 12.5%. This was boosted by a positive trading performance in its developed markets, particularly the UK where revenue increased by close to 11% and trading profit rose by just over 20%…

28 Aug 2019 2AM 4 min

Murray & Roberts' order book jumps to R46.8bn

Murray and Roberts has released its full year numbers today, posting a 7% decline in revenue from continuing operations - its Oil & Gas along with the Power and Water Platforms also registered declines. The Underground Mining Platform however delivered record earnings. Company's CEO, Henry Laas joins us for a…

28 Aug 2019 2AM 7 min

Imperial Logistics expects better year ahead after profits fall

Imperial Logistics has reported a slump in profit after tax from continuing operations to R90m in the year to end-June. This was largely due to impairments, which offset a 2% increase in revenue from continuing operations. The company however believes that earnings should improve in the year to June 2020…

27 Aug 2019 2AM 7 min

Process to remove Mkhwebane​from office gets the greenlight

Public Protector, Busisiwe Mkhwebane's days in office could be numbered. Parliament's Justice Committee has given the go-ahead to begin the process for her removal. The rules committee will begin drafting the process of removing a Chapter 9 institution head as its never been done before. Lawson Naidoo from the Council…

27 Aug 2019 2AM 6 min

Stadio outlines plans for Multiversity

Stadio is gaining more traction in the tertiary education market. The acquisition of Prestige Academy along with growth in student numbers has helped boost the private education group's interim earnings and as a result revenue grew 38% but despite this, a dividend will not be paid as the group focuses…

26 Aug 2019 2AM 7 min

Super Group delivers strong full-year results

Super Group's commodities business has continued to give the company a boost. That's as annual revenue came in 6.2% higher which further translated into a 12.5% jump in headline earnings per share to just over 360 cents. Super Group's CEO, Peter Mountford gave some perspective on the numbers to Business…

26 Aug 2019 2AM 5 min