Corporate Updates

South Africa

African Rainbow Minerals:The mining company, in its results for 1H13, reported that its revenue grew marginally to R9.15bn from the same period last year. However, diluted headline EPS fell 30.2% to R6.50, compared to the corresponding period prior year, hurt by lower iron ore prices and rising costs.

AECI:In its results for FY12, the company indicated that its revenue came in at R14.92bn, an 11.3% rise compared to the previous year. However, diluted headline EPS declined 27.5% to R5.21 from a year ago, hurt by declining demand from the strike-hit South African mining sector.

Litha Healthcare Group:The pharmaceuticals company, in its trading update for FY12, indicated that it expects EPS to between 40.0% and 60.0% higher, while headline EPS is expected to be between 60.0% and 80.0% lower compared to last year.

Sibanye Gold:The gold miner announced that partial production has resumed at its Beatrix 4 shaft, after operations were suspended following a fire on 20 February 2013 that affected a significant part of the shaft.

Comair to file papers over SAA’s R5.00bn guarantee:Listed carrier, Comair, which operates British Airways flights and low-cost airline kulula, will file papers in the North Gauteng High Court to challenge the government’s R5.00bn guarantee extended to loss-making South African Airways in October last year, Comair’s CEO, Erik Venter said.

Sabvest gains from listed investments:Investment company, Sabvest, has managed to increase its headline EPS by 68.9% to a record level of R3.01 in FY12, helped by strong operating performances from its main investments.

OneLogix outlook ‘remains positive’:Altx-listed logistics group, OneLogix, reported an 11.0% increase in its headline EPS to 13.60c for the six months ended 30 November 2012. The company indicated that outlook for the year remains positive and its businesses are well positioned to address challenges and take advantage of growth opportunities in their markets.

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