SA leader in sustainable buildings increases profit after tax 20% to R437m in tough trading climate
SA leader in sustainable buildings increases profit after tax 20% to R437m in tough trading climate JSE-listed Balwin Properties recently posted an impressive set of results for the 2023 financial year, growing revenue despite a 6% drop in unit sales. Revenue increased 6% for the year to R3.3bn, with profit after tax jumping 20% to R437m. This culminated in 21% growth in earnings per share to 91.49c. Despite macroeconomic constraints and interest rate increases during the year, the group managed to grow...
Dis-Chem targets continued expansion despite tough South African operating environment.
Dis-Chem targets continued expansion despite tough South African operating environment. Dis-Chem delivered solid results for the year to end February 2023 with the Group's performance driven by a normalisation of shopping behaviour post-Covid-19. The company said its earnings per share and headline earnings per share for the 12 months to 28 February 2023 had increased by 17.2% and 17.4% respectively to 116.3c and 116.5c per share, while group revenue rose 7.4% to R32.7 billion. Excluding Covid-19 vaccines and testing, group revenue came...
The Netcare Group has been preparing for South Africa’s energy crisis since 2013
The Netcare Group has been preparing for South Africa's energy crisis since 2013 As the post-COVID-19 operating environment continues to normalise, the Netcare Group has delivered a robust incremental improvement in financial performance in H1 2023, when measured against the comparative six-month period ended 31 March 2022 (H1 2022). The Group’s adjusted Headline Earnings Per Share (HEPS) increased 31.5% to 46.3 cents (H1 2022: 35.2 cents), and normalised EBITDA grew by 24.0% to R2 015 million (H1 2022: R1 625 million). The...
Raubex CEO Felicia Msiza delivers record results as her first anniversary in the hot seat approaches
Raubex CEO Felicia Msiza delivers record results as her first anniversary in the hot seat approaches Raubex's diversified portfolio provided a solid underpin to the results with the company's Western Australian operations contributing 19% to the Group's total operating profit. In South Africa only the construction materials and mining business is significantly exposed to load shedding and the group has invested in generators and power generation related costs to ensure business continuity. In her outlook statement Msiza said that Raubex will...
Vodacom has spent R4 Billion rand over the last four years on power generation related costs
Vodacom has spent R4 Billion rand over the last four years on power generation related costs Vodacom reported their full year numbers to the end of March 2023 today. The international businesses and the companies ability to take advantage of a weaker rand made up for a subdued result in South Africa as the economy continues to be hampered by severe electricity shortages. This year alone Vodacom has spent R300 million on fuel, batteries and generators.
Pick n Pay Chairman Gareth Ackerman takes a hard line on South Africa’s energy crisis
Pick n Pay Chairman Gareth Ackerman takes a hard line on South Africa's energy crisis In his introductory comments at Pick n Pay's year end results the Group's Chairman Gareth Ackerman commented: "As outlined in our announcement this morning, in recent months we have spent around R60-million per month on diesel. It is an extraordinary challenge to manage a business on this basis. Without this unnecessary cost, our Result would have beaten our own forecasts and those of many external commentators. Shockingly, 37% of...
Renergen Boss Stefano Marani talks to the huge benefits of a Nasdaq listing for their shareholders
Renergen Boss Stefano Marani talks to the huge benefits of a Nasdaq listing for their shareholders Renergen Limited reported full year results today for the first time as a producer rather than an explorer. The Helium and natural gas producer cut its loss by more than a fifth in its year to end-February. Renergen, which began production in September, said revenue surged just over 388% to R12.7 million to end-February, with its loss after tax falling 21% to R26.6 million. The company, valued...
South African Banks will spend R700 Billion over the next 4 years on Sustainable Finance
South African Banks will spend R700 Billion over the next 4 years on Sustainable Finance Anneke Lund Executive Sustainable Finance at Standard Bank recently participated in an Energy symposium which put women at the centre of solving for South Africa's energy crisis. Lund highlighted that South African Banks have publicly pledged to spend R700 Billion in aggregate over the next four years on Sustainable Finance. Standard Bank itself has committed to R250 billion rand over this time frame with a R50...