Business News Leaders

Construction activity expected to improve

Construction activity is set to improve during the second half of the year and gain further momentum next year. That's according to Afrimat's second quarter construction index. Independent economist Roelof Botha spoke to Business Day TV about the factors that could contribute to the upswing.

18 Sep 2019 2AM 7 min

Comair buffeted by fuel-price volatility and Boeing 737 Max grounding

A R1.2 billion settlement from SAA has provided Comair with much needed cushioning during its full-year and as a result, the airliner's earnings have nearly tripled. Excluding the settlement, the group's profit would have nosedived by 82%. In the meantime, operating expenses grew 16% as the group battled rand and…

17 Sep 2019 2AM 5 min

Sasfin earnings up by almost a third on better credit controls

Financial services group,Sasfin released its annual results today, delivering a near 32% jump in headline earnings per share to 501 cents. This was mainly fuelled by an improvement in its credit-loss ratio and a lower tax bill. Business Day TV caught up with the company's CEO Michael Sassoon for more…

17 Sep 2019 2AM 4 min

Higher costs weigh on Acsa

The Airports Company South Africa's annual profit has slumped by 59%. That's as costs grew by 50% while traffic volumes and non-aeronautical flows came in lower than expected with departing passenger numbers rising a tepid 1.3%. Company's Acting CFO, Lindani Mukhudwani talks to Business Day TV about the company's numbers.

17 Sep 2019 2AM 7 min

Will the oil price spike wipe out October's expected petrol price cut?

The attack on Saudi Arabia's oil facilities has resulted in a record spike in the oil price and hints at increased geopolitical risk. South Africa's Central Energy Fund has forecast a cut in petrol prices for next month but the recent event may cancel out that prediction leaving consumers even…

16 Sep 2019 2AM 6 min

Afrox posts 3.3% rise in half-year revenue

Strong demand from the healthcare sector has kept Afrox from flat-lining. South Africa's largest gas and welding company has reported a 3.3% rise in interim revenue, that's as demand for its products used in hospitals across the country, offset a continued contraction in the manufacturing sector. The group also highlighted…

16 Sep 2019 2AM 6 min

Moyo no longer an Old Mutual employee, says Manuel

In a new twist to the Old Mutal/Peter Moyo saga - now in month three - the insurer's lawyers have sent a letter to Moyo informing him that it's "reconsidered its stance" on further legal action. Business Day TV spoke to Old Mutual Chair Trevor Manuel for more detail on…

13 Sep 2019 2AM 7 min

How Spur plans to cope with SA's shrinking middle class

Spur's reported a close to 6% rise in revenue, with bulk of that growth coming through from its international arm. Overall, the franchise owner opened 59 restaurants over the period. And has further plans in play to open 21 restaurants in the year ahead, 11 in South Africa and 10…

12 Sep 2019 2AM 5 min

What is hampering ARC's performance?

ARC Investments has been hampered by the performance of most of the entities in which its invested as a tough economic environment takes hold. This has resulted in a tepid 2.4% rise in net asset value per share, which is significantly below the medium to long-term expectation of 16%. Business…

12 Sep 2019 2AM 6 min

Aspen set to sign deal with Indian maker of API

Aspen is delivering on its plan to deleverage its balance sheet, cut debt and improve its cash conversion ratio which came to fruition in the second half of the year. With all those factors coming together, the one aspect that doesn't seem to be coming through for the pharmaceutical group…

12 Sep 2019 2AM 8 min

Attacq beats guidance with 10% rise in dividend

Freshly completed buildings at Attacq's Midrand development is already paying off for the group - revenue growth from that project has helped the investment trust grow distributable earnings by 17%. The company's net asset value however has declined due to impairments related to reducing its Rest of Africa exposure. Business…

10 Sep 2019 2AM 7 min

Where is Master Drilling seeing opportunity?

Drilling solutions company, Master Drilling has released its interim numbers posting a near 4% rise in revenue which was boosted by its acquisition of Atlantis. The company says its new business pipeline remains solid as it sees sees growth opportunities in Russia and Australia. Business Day TV sat down the…

10 Sep 2019 2AM 7 min

AMCU declares dispute in wage talks

Wage talks in the platinum sector have stalled. The Association of Mineworkers and Construction Union (AMCU) has declared a dispute. AMCU is demanding a three-year wage increase of R1,500 per year for entry level workers and a 10% rise per year for skilled workers as well as a number of…

10 Sep 2019 2AM 3 min

How the national minimum wage has weighed on Workforce Holdings

Labour services group, Workforce Holdings released interim results on Monday, reporting a 7.7% rise in revenue, but their headline earnings per share came in 6% lower to 18.5 cents. That is as the company battles with a weak economic environment and a slowdown in government spending on infrastructure. Business Day…

9 Sep 2019 2AM 5 min

Old Mutual bars CEO Peter Moyo from the office

Old Mutual CEO Peter Moyo has once again been barred from returning to work. This deepens the legal battle between Moyo and the insurer, which has frustrated investors and weighed on the company's share price. Joining Business Day TV on the line to discuss the latest development is Moyo's lawyer,…

9 Sep 2019 2AM 3 min

Brexit delay bill made law

British Prime Minister, Boris Johnson has suspended UK parliament for over a month and at the same time, a bill demanding that Johnson delay the withdrawal if he cannot get a divorce deal has been made law what does this mean for t he entire process? Abhinay Muthoo, Professor of…

9 Sep 2019 2AM 7 min

EPP eyes portfolio expansion

Polish retail property group, EPP has kept its interim distribution almost unchanged at close to 6 euro cents, this amid a 56% fall in net profit to 34 million euros. The group however said that it is upbeat about the prospects of the Polish economy as its expansion drive continues…

6 Sep 2019 2AM 6 min

Sanlam cites tough conditions as earnings fall by a third

Financial services group, Sanlam has reported a 31% plunge in interim headline earnings, this was mainly due to once-off charges linked to its broad-based BEE scheme. And even though earnings had fallen the group said it was pleased with its operational performance, given the tough economic conditions in South Africa…

5 Sep 2019 2AM 6 min

Implats swings to full-year profit

Impala Platinum is back in the black, lifted by higher metal prices and operational improvements. The miner is reporting a 36% surge in revenue - despite the annual gains, the company will only resume dividend payouts in the next year or two and this on account of a bleak economic…

5 Sep 2019 2AM 7 min

Ramaphosa must act, says FirstRand CEO

FirstRand CEO Alan Pullinger has warned that the SA economy is flat lining and has pleaded with President Cyril Ramaphosa to act urgently on “structural reforms” or there could be no escape route out of the economic crisis. The comments come alongside the release of the group's annual results. FNB's…

5 Sep 2019 2AM 8 min