Corporate Updates

South Africa

British American Tobacco:The company, in its results for FY12, reported that its revenue was 1.4% lower at GBP15.19bn, compared to the previous year. However, adjusted diluted EPS grew 6.6% to GBP2.08 from a year earlier, helped by increased prices for its products.

Massmart Holdings:The retailer, in its results for FY12, indicated that its revenue was 15.5% higher at R66.05bn, compared to the previous year. However, diluted headline EPS fell 1.8% to R4.68 from a year ago.

Liberty Holdings:In its FY12 results, the company stated that its revenue surged 55.9% to R75.96bn from a year earlier. Diluted headline EPS climbed to R13.45 from R9.82 posted in the last year, boosted by strong performance of its investment portfolio and African operations.

Capital & Counties Properties:The real estate company, in its results for FY12, indicated that its revenue came in at GBP115.30mn, a 6.4% rise compared to the previous year. Diluted headline EPS fell to 2.00p from 2.80p posted a year earlier, due to the rising value of real estate in London.

Hyprop Investments:The property investment company, in its results for FY12, reported that its revenue came in at R2.18bn, a 37.5% increase compared to the prior year. Diluted headline EPS was 9.6% higher at R4.45 compared to a year ago.

Murray & Roberts Holdings:In its results for 1H13, the company reported that its revenue stood at R18.72bn, a 4.7% rise compared to the corresponding period last year. It reported diluted headline EPS of R0.69 compared to a loss of R1.90/share posted in the comparable period previous year.

African Oxygen:The company, in its results for FY12, stated that its revenue was 5.9% higher at R5.56bn, compared to a year earlier. However, headline EPS fell marginally to R0.91 from the last year.

Kagiso Media:In its FY12 results, the media group indicated that its revenue climbed 55.7% annually to R708.99mn. However, diluted headline EPS dropped 1.9% to R0.81 from the comparable period a year earlier.

Litha Healthcare Group:The pharmaceutical company, in its FY12 results, stated that its revenue came in at R1.47bn, an 18.2% decline from the last year. Diluted headline EPS fell to 4.90c from 22.10c reported a year ago, hurt by declining revenue and weakness in the South African rand.

Cipla Medpro South Africa:The company announced that Cipla Limited has agreed to acquire 100.0% of ordinary shares of Cipla Medpro South Africa by way of a scheme of arrangement for R10.00/share in cash.

Lonmin:The mineral resources group reported that it is in discussion with trade unions and non-unionised employees for renewal plan of its operating structure. The new structure would probably affect 150 management positions.

Sibanye Gold:The gold mining company reported that one of its underground production employees, who was involved in stopping activities at the Beatrix mine, has passed away. The Department of Mineral Resources has issued work stoppage notice for the blasting operations at Number 3 Shaft Beatrix, following the fatality.

Coal of Africa:The coal mining company announced that it has declared force majeure on coal shipments from its collieries after a derailment of 10 wagons on the rail corridor linking with the Maputo port in Mozambique earlier this month. The freight operator, Transnet Freight Rail, indicated that the rail traffic could be suspended for at least seven weeks.

Accentuate reports flat interim earnings:Flooring and specialist chemicals company, Accentuate said that it would benefit from a recovery in the construction industry in six months to a year from now. The company, which released its financial results for the six months ended December 2012, reported flat diluted headline EPS.

Air Products agrees to R2.80mn penalty for price-fixing:Air Products SA, which manufactures, supplies and distributes industrial and speciality gas products and chemicals in Southern Africa, reached a settlement with the Competition Commission, after being in exclusive arrangements with Sasol Chemical Industries for several years.

Eskom foresees difficulties:An electricity tariff hike of 8.0% over the next five years will present difficulties, Eskom said. Eskom had applied for a 16.0% increase in electricity prices in each of the next five years.

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