Corporate Updates

Exxaro Resources:In its trading statement for FY12, the resources company indicated that attributable EPS is expected to be between R25.97 and R27.88, representing an increase of between 18.0% and 27.0% compared to the previous year. However, headline EPS is anticipated to be in the range of R12.61 to R14.43, representing a decline of between 31.0% and 40.0%, compared to a year ago.

Northam Platinum:The platinum miner, in its results for 1H13, reported that its revenue came in at R2.21bn, an 11.6% rise compared to the corresponding period previous year. However, diluted headline EPS was 29.9% lower at 36.30c, compared to the same period a year ago, hurt by increased borrowing cost and tax charges.

SA Corporate Real Estate Fund Nominees:The property unit trust, in its results for FY12, stated that its revenue decreased to R1.23bn from R1.24bn recorded a year ago. Headline earnings/unit fell 9.6% to 27.20c, compared to last year.

Pioneer Foods:The company reported that Phil Roux would be appointed as the new Chief Executive Officer, with effect from 1 May 2013, replacing André Hanekom.

ArcelorMittal South Africa:The company announced that steel making operations at its Vanderbijlpark plant is expected to resume in March 2013, following a force majeure by the company after a fire, which occurred on 9 February 2013, forcing it to shut a part of the steel-making facility.

Steinhoff boss fingered in resignation of JD Group CEO:Steinhoff CEO, Markus Jooste, was behind the sudden departure this week of JD Group CEO, Grattan Kirk, sources said adding that Steinhoff, which is JD Group’s biggest shareholder, planned to get more involved in the retailer.

Nissan to launch Datsun brand in South Africa:Nissan will launch the Datsun brand in South Africa during 2014, the company announced at a press conference. This will likely shake up the entry-level segment of the market, which has seen impressive growth over the past few years.

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