South Africa's Standard Bank said on Monday that the performance of its loan portfolio in the 10 months to the end of October had been better than expected, with earnings recovering from the impact of the pandemic. Read more.
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JSE-listed Tsogo Sun Gaming's half-year results released on Thursday show the group has put its 2020/2021 loss-making year behind it, as the gaming giant reported a jump in profits and a reduction in debt. Read more.
A couple of weeks ago, Investec "warned" shareholders that interim results for the six months to September 2021 would be much better than those for the troubled first half of the last financial year. Read more.
Spar's share price fell more than 7% on Wednesday after the company reported weak financial results for the 2021 financial year ended September 30. While the group described its "robust performance" despite "numerous challenges" during the year, the market reacted to the fact that it could only report revenue growth of 2.9% (to R127.9 billion). "Mixed performance across the regions resulted in an operating profit of R3,4 billion, down 1,5% on the previous year," the group said in its Sens results statement. "At constant exchange rates, revenue increased 3.9%, highlighting the impact of the stronger rand on the
Vodacom Group - the JSE-listed telecoms giant that is looking to transform itself into a technology company - announced in its latest results released on Monday that the company added 6.2 million new customers in the six months ended 30 September 2021. This is across the group's business in Africa, including Safaricom on a 100% basis. This addition brings Vodacom's customer base to 129.9 million, within striking distance of the 130 million mark, which is likely to be surpassed in the current financial year. South Africa's largest mobile network operator also said in the results that it had added an additional 1.1 million data
Telkom has burnt almost R1 billion in cash over the past six months. The company reported negative free cash flow of R839 million for the six months to the end of September, down R1.05 billion from positive R11 million in the first half of last year. Read more.
Vodacom has agreed to buy a majority stake in Vodafone Egypt from its UK parent for $2.7 billion. (R40.86 billion), expanding the South African operator's operations into the north of the continent. Read more.
The number of active fibre connections on Telkom's network has leapfrogged the number of old copper connections. Read more.
Pepkor expects headline earnings per share to increase by 94,7% to 114,7% (127,5 cents to 140,6 cents) for the financial year ending 30 September 2021. Read more.
Shares in JSE-listed retail and wholesale group Massmart rose 8.56% on Tuesday to close at R68 after the group announced in a Sens sales report that it had achieved R1.3 billion of its R1.9 billion cost savings target in the 39 weeks to 26 September. Read more.
The price of crude oil plunged on the first trading session of the week as China released gasoline and diesel reserves, easing concerns over a tight supply, while investors cashed in ahead of the November 4 meeting of major crude producers that could raise production targets. Read more.
The group expects a significant recovery in group earnings before interest, tax, depreciation and amortisation (Ebitda) to around 15.5%, compared with 12.1% in the previous corresponding period. Read more.