CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
Indluplace Properties, the largest residential focused JSE-listed REIT, said distributable income fell 22 percent to R120.5 million in the six months to March 31 as costs such as legal fees for defaulting tenants and higher than inflation municipal charge increases eroded profit growth.
DRDGold recorded a 15 percent jump in production for the March quarter as the Far West Gold Recoveries (FWGR) project that it bought after selling shares to Sibanye-Stillwater ramps up.
Anheuser-Busch InBev SA (AB InBev), the world’s biggest brewery, reported higher revenues from its global brands Budweiser, Stella Artois and Corona, in the first quarter of 2019, as volumes were softer in South Africa, with consumers remaining constrained due to challenging macroeconomic conditions.
Troubled retailer Steinhoff International’s long delayed 2017 audited financial results were finally released after the close of the market on Tuesday midnight, revealing a loss of €3.99 billion (R64.5bn) for the year to end September.
The incoming administration is set to inherit improved business confidence after sentiment rose in April for the first time since January in anticipation of a more stable post-election policy environment.
A South African delegation from the steel and fabrication; engineering and services; electro technical and services; and oil and gas sectors has arrived in Houston, Texas in the United States of America (USA) where they are showcasing their capabilities at the Offshore Technology Conference (OTC).
Voting day has come and gone and the rand’s trading pattern remains intact according to Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions.
BUSINESS REPORT ONLINE