Ster-Kinekor's journey to recover from the financial fallout of the Covid 19 pandemic has been slightly delayed as recovery expert Steyn Smyth has requested an extension to the deadline for the publication of the recovery plan until 21 January 2022. Read more.
South African lender FirstRand said on Tuesday that its profits are expected to rise by more than 30% in the six months to December 31. The company cited higher retail loan growth and falling loan impairment charges as reasons. The bank said earnings per share, the key profit metric in South Africa, will be at least 258.6 cents in the period, up from 198.9 cents a year earlier. A more detailed explanation on the increase will follow, it said, adding that the bank continues to provision conservatively due to uncertainty. Read more.
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.
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.
The share price of JSE-listed home furnishings retailer Lewis Group rose 9.48% on Wednesday, hitting a new 52-week high and closing at R47.45, after the company reported strong half-year results for the six months ended September 30. 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
Shares in self-storage property fund Stor-Age rose just over 6% on the JSE on Tuesday after its half-yearresults to the end of September 2021 showed another strong set of financial results. As well as paying an interim dividend of 56.60 cents per share, Stor-Age announced an 8.85% increase in its dividend per share and chose to give the market an "outlook" by forecasting full-year dividend growth of between 6% and 8%. Read more.
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.
Hospital chain operator Mediclinic International said Thursday its profit more than tripled in the first half ended Sept. 30 from a year earlier, approaching pre-pandemic levels as people returned for non-Covid treatment. 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.
MTN Group recently made a takeover attempt for Telkom, which would have seen South Africa's second and third largest telecoms providers merge, according to people familiar with the matter. 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.
All Rights Reserved News SA Shares – 2021
