Hoteliers upbeat on revival of SA tourism
THERE is renewed optimism among hoteliers in SA after the post-2010 slump. This is happening against the backdrop of an imminent announcement about unabridged birth certificates from the interminister…
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Vunani turns profit in period to end-February
Financial services group Vunani turned to a pretax profit of R8.4m in the 14 months to end-February from a R23.9m loss in the year to end-December 2014. Its previous year’s results were boosted by R92…
PPC downgrade warning hits stock
PPC, SA’s biggest cement producer, warned on Monday of a credit rating downgrade and said it was in the advanced stages of a capital raising exercise for up to R4bn, tanking its shares. Its shares p…
Rebosis bolsters exposure to top retail assets through R6bn transaction
By Alistair Anderson Rebosis Property Fund‚ the JSE’s first listed‚ black-managed real-estate investment trust (reit)‚ on Monday announced a watershed R6bn transaction that will substantially in…
PPC crashes 22% amid capital raise jitters
PPC (PPC) shares crashed as much as 22% to their lowest level in more than 10 years on Monday‚ dealing a blow to the cement maker’s plans to shore up its balance sheet. PPC said earlier it planned t…
Chance of Brexit adds a touch of doubt to SABMiller deal
LAST October, the £44-a-share offer by Anheuser-Busch InBev (AB InBev) for SABMiller seemed so eye-wateringly generous there was little doubt it would win over shareholders. Six months later, the unc…
‘Inferior’ Masonite deal leaves small minority shareholders seething
MALL minority shareholders on the JSE were dealt another blow on Thursday, when the majority shareholders of Masonite pushed through a deal that will end its 60-year history as a listed company. The s…
Investec Australia Property Fund shows standout growth
INVESTEC Australia Property Fund (IAPF) is a standout among overseas-based real estate companies, delivering distribution growth of 29.3% in rand terms for the year to March. Even in Australian dollar terms, the compa…
Revenue takes a knock at Stefanutti in tight market
CONSTRUCTION major Stefanutti Stocks has seen revenue slide and total profit fall in the turbulent African and Middle Eastern construction and engineering markets. Revenue fell 9% and total profit dro…
Competition penalty increases Stefanutti’s finance costs
Construction group Stefanutti Stocks (SSK) reported on Thursday that finance costs jumped 45% to R60.4m in the year to end-February due to interest payments on the third and fourth instalments of its Competition Commi…