News

ArcelorMittal South Africa Faces Losses: H1 2024 Performance Declines

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

ArcelorMittal South Africa faces challenges in a stagnant global steel market.
China’s high steel exports and weak domestic demand impact international markets.
The company defers wind-down of its Longs Business to explore sustainability measures.

ArcelorMittal South Africa Faces Losses: H1 2024 Performance Declines Read More »

Nedbank

Deep Yellow Taps Nedbank for Tumas Project Financing, Eyes Optimal Uranium Growth

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Deep Yellow Limited appoints Nedbank for Tumas Project financing in Namibia.
Nedbank chosen for its extensive experience in financing African mining projects, including uranium.
The appointment aims to secure competitive funding for optimal project development and market exposure.

Deep Yellow Taps Nedbank for Tumas Project Financing, Eyes Optimal Uranium Growth Read More »

Tongaat Hulett Equity Plan: Vision Investments to Acquire 97.3% Stake Amid Delisting Risks

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Tongaat Hulett Limited implements a business rescue plan involving an equity subscription.
Vision Investments will acquire 97.3% of THL’s share capital through the subscription.
Shareholders face potential delisting risks despite plans to retain THL on the JSE.

Tongaat Hulett Equity Plan: Vision Investments to Acquire 97.3% Stake Amid Delisting Risks Read More »

Ethos Capital Announces Brait PLC Unbundling Amid Regulatory Approval Awaited

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Ethos Capital plans to unbundle its holdings in Brait PLC, pending regulatory approval.
The transaction involves Black Hawk selling shares to Ethos Capital for no consideration.
Directors associated with Ethos Capital have disclosed their dealings in compliance with JSE requirements.

Ethos Capital Announces Brait PLC Unbundling Amid Regulatory Approval Awaited Read More »

Clicks Group Sells Unicorn Pharmaceuticals, Clears Path for New Licenses Amid Legal Resolution

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Clicks Group will sell its stake in Unicorn Pharmaceuticals to comply with a Constitutional Court judgment.
The sale will allow the Department of Health to issue new retail pharmacy licenses to Clicks Group.
The divestment supports Clicks Group’s expansion in providing accessible healthcare across South Africa.

Clicks Group Sells Unicorn Pharmaceuticals, Clears Path for New Licenses Amid Legal Resolution Read More »

Sirius Real Estate Announces Change of Registered Office Address

Business News, Capital Markets, Investing News, Stock Market / Lethabo Ntsoane

Sirius Real Estate shifts registered office to Plaza House, Admiral Park, Guernsey.
Company maintains headquarters for subsidiaries Sirius Facilities GmbH and BizSpace.
Financial metrics show revenue up 11%, reaching £200 million in FY2023.

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Hudaco Industries Reports 6.3% Revenue Drop in H1 2024

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Revenue Decline: Hudaco’s revenue fell by 6.3% to R3,983 million in H1 2024.
Profit Decrease: Operating profit decreased by 11.0% to R414 million.
Dividend Stability: Interim dividend remains steady at 325 cents per share.

Hudaco Industries Reports 6.3% Revenue Drop in H1 2024 Read More »

SA Quarterly Capital Expenditure Declines in Q1 2024

Economy / Lethabo Ntsoane

Q1 2024 capital expenditure on new assets totaled R83.2 billion, down 12.4% from Q4 2023.
Year-on-year, capital expenditure increased by 2.8%, with notable growth in construction and IT equipment.
Plant, machinery, and equipment dominated spending, constituting 62.4% of total expenditure in Q1 2024.

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PBT Group Reports 3% Revenue Growth in FY2024, Declares Dividend

Business News, Capital Markets, Finance News, Investing News, Stock Market / Lethabo Ntsoane

Financial Performance: Revenue up 3%, EBITDA down 5.6%, dividend declared.
Distribution Details: 34 cents per share total distribution declared.
AGM and Compliance: AGM on August 2, B-BBEE compliance report available.

PBT Group Reports 3% Revenue Growth in FY2024, Declares Dividend Read More »

South Africa’s PPI Drops to 4.6% in May, Down from 5.1% in April

Economy / Lethabo Ntsoane

Producer Price Index (PPI) in South Africa fell to 4.6% in May, down from 5.1% in April.
This decline reflects easing inflationary pressures in the manufacturing sector.
Economists attribute the drop to lower fuel prices and stable exchange rates.

South Africa’s PPI Drops to 4.6% in May, Down from 5.1% in April Read More »