CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
Dis-Chem Pharmacies yesterday reported double-digit growth of 12.1 percent in group revenue to R11.6 billion for the 22 weeks to February 2, with online sales surging 218 percent despite the Covid-19 second wave disrupting the business.
2. Inflation rises slightly but still within target range
Chances of an interest rates change took a dive yesterday as Statistics South Africa (StatsSA) said that the country’s annual consumer price index (CPI) ticked up slightly in January to 3.2 percent on the impact of fuel price hikes on household consumption.
3. Blue Label forecasts 45% profit surge in interim basic earnings
Blue Label Telecoms, which holds 45 percent in troubled Cell C, has flagged strong earnings and cash flow growth for the six-month period ended November 30, 2020, as the sale of its Mexican portfolio paid off handsomely.
4. Calgro M3 secures a second loan facility on an unsecured basis
Calgro M3 Holdings, holding company of Calgro M3 Developments, has secured its second international funding facility of $20 million (R290.6m) on an unsecured basis, a statement said yesterday.
5. Rand steps back after recent rally
The rand succumbed to pressure from global risk and allocation shifts – in response to rising United States Treasury yields – as well as profit taking according to NKC Research.
6. Return to level 3 deals trade conditions a blow
Trade conditions in South Africa suffered a setback in January due to the return to a more stringent lockdown implemented to curb the spread of the second wave of Covid-19 infections.
7. Imperial Logistics expects headline earnings a share to fall by up to 190 cents
Imperial Logistics’ headline earnings a share including discontinued operations were expected to fall to between 177 cents and 190c per share in the six months to December 31 compared with 190c in the same period a year before, a statement said yesterday.
BUSINESS REPORT ONLINE