SA Corporate Updates

FirstRand:The financial services group, in its 1H13 results, reported that net interest income, after impairment of advances, rose 16.2% to R10.12bn from the corresponding period last year. Diluted headline EPS surged to R1.31 from R1.01 posted in the comparable period prior year, on the back of growth in its earnings from lending and fees.

Steinhoff International Holdings:The company, in its 1H13 results, stated that its revenue climbed to R57.29bn from R37.65bn reported in the comparable period last year. Diluted headline EPS grew 5.3% to R1.58, compared to the corresponding period a year earlier, boosted by growth in its European market and improved margins.

Capitec Bank Holdings:The banking company, in its trading statement for FY13, indicated that EPS and headline EPS are expected to be between 32.0% and 36.0% higher than the previous year. Separately, it reported that Moody’s Investors Services has affirmed the bank’s “” national-scale issuer’s ratings and changed the outlook from “Positive” to “Stable”.

Royal Bafokeng Platinum:In its results for FY12, the platinum miner indicated that its revenue stood at R2.87bn, a 3.7% decline from the previous year. Diluted headline EPS fell to R1.04 from R1.66 posted a year ago.

Brimstone Investment Corporation:In its results for FY12, the company stated that its revenue came in at R1.95bn, a 4.2% rise compared to a year ago. Diluted headline EPS climbed to R2.95 from R1.51 posted a in the previous year, helped by improved operating margins.

Merafe Resources:The miner, in its results for FY12, indicated that its revenue grew 4.7% annually to R2.54bn. However, diluted headline EPS fell 16.7% to 5.00c, compared to a year earlier.

Afgri:In its trading update for FY12, the company stated that it expects EPS and headline EPS to be between 12.0% and 18.0% lower than the previous year.

Impala Platinum Holdings:The platinum miner indicated that the Government of Zimbabwe, through a Government Gazette Extraordinary dated 1 March 2013, has proposed to compulsorily acquire approximately 50.0% of mining claims owned by its operating subsidiary, Zimbabwe Platinum Mines Limited. The company has 30 days from the publication of the Gazette Extraordinary to lodge a written objection with the acquiring authority.

Lonmin:The platinum miner announced that around 6,000 workers from the Association of Mineworkers and Construction Union have gone on an illegal strike at its Marikana mine, demanding the closure of the offices of rival union, National Union of Mineworkers as it was no longer the majority union.

Vodacom unveils solar array of panels in Cape Town:Vodacom unveiled what it describes as the largest solar array of panels on a single building in Africa at its Cape Town offices in Century City.

Intu to invest £25.00mn on new brand and roll-out:The rebranding of JSE-listed Intu Properties, formerly known as Capital Shopping Centres, "takes us a notch ahead of our UK competition", says CE David Fischel. The group, which is listed in both London and on the JSE and which has a significant South African shareholding, announced in January that it was establishing a single nationwide brand for its centres and changing its name, while rolling out digital infrastructure in its malls.

Thank you Anchor Capital

Back Back to top

Forex Risk Warning