Business News Leaders

Sibanye-Stillwater back in the black in H1

Neal Froneman, CEO of Sibanye-Stillwater joined Business Day TV for a closer look at the numbers as it reported its interim results on Thursday.

23 Aug 2018 6AM 8 min

David Jones impairment drags Woolies into FY loss

Woolworths has slipped into the red for the FY - due to a R6.9 billion impairment of its Australian department store, David Jones. Ian Moir, CEO of Woolworths joined Business Day TV to discuss the finer detail behind the numbers.

23 Aug 2018 6AM 7 min

Restructuring costs weigh on Massmart's H1 profit

Massmart's reported its first half numbers today - delivering a drop of just over 42% in headline earnings. This as restructuring costs and a tough trading environment weighed. Sales for the period have come in flat at 41.7 billion rand. Massmart's CEO, Guy Hayward joined Business Day TV on the…

23 Aug 2018 6AM 7 min

Mantashe considers scrapping MPRD

Mineral Resources Minister, Gwede Mantashe is planning to withdraw the Mineral Resources Development Amendment Bill which has been the subject of legal process since 2013. The Minister says that the withdrawal will allow the mining industry to be governed by the Mineral and Petroleum Resources Development Act in its present…

22 Aug 2018 8AM 6 min

CPI accelerates to 5.1% in July

Intro Chief Economist at Stanlib, Kevin Lings joined Business Day TV on the line for his take on what this print suggests for the inflationary trajectory going forward.

22 Aug 2018 8AM 5 min

European performance boosts Bidcorp's FY results

Food services group, Bidcorp reported its annual results today showing a 9% increase in earnings. This, as the five continents within which the group operates generated positive trading performances with the stand-out performer being Europe where revenue increased by 22% and trading profit surged 38%. Now, the company has decided…

22 Aug 2018 8AM 7 min

Shoprite posts surprise dip in FY earnings

Pieter Engelbrecht, CEO of Shoprite joined Business Day TV on the line to discuss their latest results.

21 Aug 2018 4AM 6 min

Harmony plunges into FY loss as impairments weigh

Peter Steenkamp, CEO of Harmony joined Business Day TV to drill into the detail behind their full year results which was released on Tuesday. Harmony reported its full-year results today reporting a 43% slump in earnings due to more than R5 billion worth of impairments at its local mines, a…

21 Aug 2018 4AM 7 min

Anglogold returns to profit in H1

Anglogold Ashanti's swung back to profitability in its first half. It's reported adjusted headline earnings per share at 21 US dollar cents compared to last year's 23 cents loss. The move comes off the back of an improvement in its operating performance as well as a decline in costs. Now,…

20 Aug 2018 4AM 6 min

BEE scheme bites into Sasol's bottomline

Sasol's net profit has nearly halved to R10 billion, this as its empowerment scheme has weighed on it's bottom line along with the stronger rand. Despite this, the company has declared a dividend of R7.90 bringing total payout to nearly R13 reflecting a 2.4% increase. Bongani Nqwababa, Joint CEO of…

20 Aug 2018 4AM 7 min

Gold Fields' H1 earnings overshadowed by job cuts

Gold Fields announced its interim results today - and while headline earnings per share came in flat, the interim dividend has been halved - its the company's last ditch effort to turn things around its loss making South Deep mine with over 1500 job cuts thats overshadowing the numbers. Mineral…

16 Aug 2018 6AM 8 min

Spendthrift consumers weigh on Truworths FY profit

The tough economic environment in South Africa and the UK has weighed on Truworths' full year results. The retailer has reported a 7.3% decline in profit. Its CEO, Michael Mark joined Business Day TV on the line to unpack the details behind the group's performance during the period.

16 Aug 2018 6AM 7 min

Emira's FY distributions were up 2.53%

Emira Property Fund's distributions for the year has increased by 2.53% year-on-year, despite persistently tough trading conditions. The company says the performance reaffirms the company's turnaround and return to positive dividend growth.... With its rebalancing and reinvestment strategies firmly in place CEO, Geoff Jennett joined Business Day TV in studio…

15 Aug 2018 4AM 6 min

DMR unhappy about mines not following processes on job cuts

Following job cuts announcements by miners Impala Platinum and Gold Fields, the Department of Mineral Resources says that it has noticed a a worrying trend with mining companies ignoring due processes and only briefing the department as a mere formality which leaves no room for meaningful engagement. Director General of…

15 Aug 2018 4AM 8 min

June retail sales raises red flag about recessionary risk

Retail sales rose a tepid 0.7% year-on-year in June after increasing by 1.9% in May, raising red flags about a technical recession in the second quarter. On a month-on-month basis, sales fell 1.2%. Economists largely expected retail sales to increase by 2.2% meanwhile, Reserve Bank Governor, Lesetja Kganyago has highlighted…

15 Aug 2018 4AM 8 min

VAT panel's recommendations to cost fiscus R4bn in tax revenue

The VAT panel which Treasury set up to look into ways of softening the impact of the first in VAT hike in 25-years has recommended that the following items should be in the zero-rated items basket namely, white bread, bread flour and cake flour, sanitary products, nappies for babies and…

13 Aug 2018 2PM 8 min

Ramaphosa's stimulus plan to cost R43bn

Our economy is on the brink of a recession. President Ramaphosa hopes to stimulate the economy with a stimulus plan of about R43 billion which will come from existing budgetary resources and new investments. This plan is set to inform Finance Minister Nhlanhla Nene's mid-term budget policy statement in October…

13 Aug 2018 2PM 6 min

Shedding light on Pink Tax

Research shows that the pink tax is alive and well in New York and California. But the jury is still out on whether South African women pay more for their goods and services than their male counterparts. My guest will explore the pink tax - she is Happy Ngale, a…

10 Aug 2018 8AM 7 min

Implats to cut over 13K jobs

Impala Platinum has announced major restructuring. The miner has slashed its future production and may consider selling some of the shafts - it plans to close - if buyers can be found. The move comes as the company grapples with rising costs and weak platinum prices and will result in…

2 Aug 2018 12PM 7 min

Liberty H1 profit up as turnaround strategy gains ground

Liberty's turnaround strategy seems to be gaining momentum. Over the half year period we've seen profit rise 6%… Operating earnings - grow 18%, so moving in the right direction but Diluted HEPS still down 1% . And with that, shareholders are in for a third year of no growth in…

2 Aug 2018 12PM 5 min