Tags : south african markets

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South African News and Market Update: FirstRand expects half-year profit

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.

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South African News and Market Update: Spar slips more than

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

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South African News and Market Update: Stor-Age share price rises

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.

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