Richemont forecasts rise in H1 profit
Johannesburg – Richemont [JSE:CFR], which has been supported by Asian shoppers and emerging markets growth recently, said strong sales growth will help boost the luxury goods maker’s profit by up to 40%, much more than the company had originally expected. The Swiss-listed maker of IWC watches and Cartier jewellery said on Monday that operating and [...]
Mondi’s interim profit falls 21%
Mondi Group posted a 21 percent decrease in its first-half earnings it said in results released yesterday. However, executives remain optimistic as they expected continued “robust cash generation” and a positive performance in emerging markets, which had outperformed its western Europe operations, the firm said in its results presentation for the six months to June. [...]
Swift in JV deal with Merieux
Johannesburg – The largest privately-owned commercial food and product safety company in SA‚ Swift Micro Laboratories‚ has concluded a joint venture with international company Chicago-based Mérieux NutriSciences Corporation – a global leader in food safety‚ quality and nutrition. The deal will provide Swift Micro Laboratories with an international partner and access to the state-of-the-art research‚ [...]
Afgri‚ Senwes to merge retail businesses
Johannesburg – Agricultural groups Afgri (AFR) and Senwes have agreed to merge their respective agricultural retail businesses‚ as well as the Partrite business of Afgri‚ in a deal the companies said aimed to optimise efficiencies by means of building economies of scale and diversifying business operations. Under the deal‚ which is still subject to [...]
Cipla warns on earnings drop
Johannesburg – Pharmaceutical company Cipla Medpro SA said on Tuesday it expected its earnings per share and headline earnings per share in the six months to June 2012 to between 32% and 38% lower compared with the same period a year ago. The comparative period last year included the pre-tax settlement income of R68.8m and [...]
Massmart earnings to disappoint
Massmart Holdings’ full-year headline earnings a share probably rose 34 percent at most, falling far short of expectations and sending its shares down as much as 5.1 percent, the local unit of Walmart said yesterday. The third-largest local retailer by market value said headline earnings a share in the 52 weeks to June 24 probably [...]
Cashbuild forecasts higher revenue
Building materials group Cashbuild (CSB) said on Monday it expected its group revenue for the 53 weeks ended June 30 to rise 11%‚ from the 52-week corresponding period a year ago. Total growth in transactions in the review period were expected to rise 2%‚ from the same period a year ago. The company said despite [...]
Shoprite’s board receives a feminine touch
Shoprite, the sponsor of the Woman of the Year competition, has announced the appointment of its first female director. Anna Mokgokong, who has a medical degree, is the co-founder and executive chairwoman of Community Investment Holdings and was South African Business Woman of the Year in 1999. She will be the first female director to [...]
Verimark expecting a loss
Retailer Verimark Holdings (VMK) cautioned on Friday that it is anticipating said on a loss before taxation of between R4.5 million and R5.5 million for the six months ended 31 August 2012 compared to the profit before taxation of R13.1 million reported on in the previous corresponding period. Headline earnings per share and earnings [...]
Country Road to buy top fashion house
Johannesburg – Retailer Woolworths Holdings [JSE:WHL] announced on Wednesday that its indirectly-held subsidiary‚ Country Road‚ has entered into an agreement to acquire the Witchery Group from Gresham Private Equity for A$172m. Witchery is one of Australia’s leading fashion brands. The deal is expected to deliver synergies of approximately A$10m an annualised basis‚ to be achieved [...]
Proud Corporate Sponsor
Proudly sponsored by ZaPOP
.JPG)