Company news in brief

14 November 2017 | Business

Tongaat Hulett posts rise in HY profit

South Africa's Tongaat Hulett reported a 5% rise in half-year profit, boosted by recovered production after a two-year drought and income from land sales.

Diluted headline earnings per share - the main profit measure in South Africa - rose to 573.8 cents per share in the six months ended Sept. 30 compared with 546.7 for the same period the previous year.

Tongaat Hulett expects to increase its share of regional sugar production to 26% in 2017/18, from 22% in the previous season.

The firm declared an interim dividend of 100 cents per share. – Nampa/Reuters

Vodacom H1 earnings inch up 1%

South Africa's Vodacom Group posted a 1.1 percent rise in half-year earnings on Monday, while net profit increased 7 percent, boosted by the acquisition of Safaricom.

Headline earnings per share - the main profit measure in South Africa that strips out certain one-off items - came in at 445 cents in the six-months ended September, compared with 440 cents a year earlier.

Vodacom, a unit of UK-based Vodafone, declared an interim dividend per share of 390 cents, slightly changed from the previous year.

Vodafone consolidated two of its African interests in May with the transfer of a 35 percent stake in Kenya's Safaricom to majority-owned South African subsidiary Vodacom. – Nampa/Reuters

Peugeot in JV to build cars in Algeria

Peugeot maker PSA Group signed a joint venture agreement with three Algerian partners to build cars in the North African country.

The French carmaker said it would invest around 100 million euros (US$117 million), equalling 49% of the joint venture's capital.

The joint venture will set up a plant in the western Algerian city of Oran, where French automaker Renault opened a plant in 2014.

The plant will start some production next year and be fully operational in 2019, PSA said. – Nampa/Reuters

Alibaba takes record US$25 bn on 'Singles Day'

Chinese online shoppers spent a record US$25 billion on this year's "Singles Day" promotion run by e-commerce giant Alibaba, up nearly 40% from last year.

At the peak, 256 000 payments were being processed per second on Saturday, the firm said, more than 90% of them placed via mobile.

The company's gross merchandise volume for its annual sales extravaganza known as "Double 11" representing November 11, came in at 168.3 billion (US$25.3 billion).

The total sales were up 39% from last year's 120.7 billion yuan (US$17.8 billion) - a milestone this year eclipsed in under 14 hours, according to Alibaba. – Nampa/AFP

Deutsche Bank picks IPO bookrunners

Deutsche Bank has selected Barclays, Citigroup and Credit Suisse as senior bookrunners for the initial public offering (IPO) of its asset-management arm, a source familiar with the matter told Reuters.

Deutsche Bank, which will be the main bookrunner, said in March it planned to list the asset management arm, which could achieve a total valuation of around 8 billion euros (US$9 billion), within two years as part of an overhaul following costly lawsuits and trading scandals.

It is expected to raise about 2 billion euros from listing about a quarter of the business.

The junior bookrunners helping to market the IPO to investors will be BNP Paribas, Unicredit, UBS, Morgan Stanley and ING. – Nampa/Reuters

Similar News

 

Chinese swoop on Rössing

16 hours ago | Business

CATHERINE SASMAN State firm China National Nuclear Corporation (CNNC) is said to be in pole position to acquire the majority...

Asparagus project in Omusati boosted

16 hours ago | Business

Namibia's first-ever asparagus agro-processing factory will be sustained by a 360-hectare production area once full capacity is reached.A 60 ha plantation is already underway at...

Kalkfeld business market for free

16 hours ago | Business

A public market at the Kalkfeld business park under the Namibia Development Corporation (NDC) will be leased to the Otjozondjupa Regional Council (ORC) from October...

Tullow Oil abandons first Namibian well

23 hours ago | Business

Africa-focused Tullow Oil will abandon its first well in Namibia, but data gathered in the project indicated it might strike lucky in another attempt, the...

More mining jobs under threat

1 day - 24 September 2018 | Business

Namdeb's Elizabeth Bay mine could be placed under care and maintenance, if no buyer is found.Production at the mine, which was put up for sale...

MultiChoice: Dual-listing on the NSX not planned

1 day - 24 September 2018 | Business

Naspers believes the planned listing of MultiChoice on the JSE is the “most suitable” option at present and isn’t considering listing on other stock exchanges...

Eco Atlantic ups stake in oil exploration company

1 day - 24 September 2018 | Business

Jo-Maré Duddy – Eco (Atlantic) Oil & Gas, pending regulatory approval, will be the sole owner of Pan Africa Oil Namibia Holdings (PAO Namibia) following...

Telecom directory tender catches flak

4 days ago - 21 September 2018 | Business

South African majority-owned company TDS Directory Operations (Namibia), which has been compiling the telephone directory of Telecom Namibia since 2007, is likely to be favoured...

Fresh warnings as phosphate deadline looms

4 days ago - 21 September 2018 | Business

As the deadline for submissions regarding a proposed marine phosphate mining project at Walvis Bay looms, a respected fishing industry expert says the impacts of...

Global Petroleum invests in search for oil

4 days ago - 21 September 2018 | Business

Jo-Maré Duddy – Global Petroleum Ltd, listed on the London and Australian Stock Exchanges, has widened it footprint in the country by acquiring an 85%...

Latest News

Chinese swoop on Rössing

16 hours ago | Business

CATHERINE SASMAN State firm China National Nuclear Corporation (CNNC) is said to be in pole position to acquire the majority...

RDP bungles councillor’s resignation

16 hours ago | Politics

KENYA KAMBOWEA former Rally for Democracy and Progress (RDP) town councillor, who resigned from the party about seven weeks ago, says he is still receiving...

Asparagus project in Omusati boosted

16 hours ago | Business

Namibia's first-ever asparagus agro-processing factory will be sustained by a 360-hectare production area once full capacity is reached.A 60 ha plantation is already underway at...

Kalkfeld business market for free

16 hours ago | Business

A public market at the Kalkfeld business park under the Namibia Development Corporation (NDC) will be leased to the Otjozondjupa Regional Council (ORC) from October...

Swapo elders ‘ignorant’

16 hours ago | Politics

JEMIMA BEUKES The Damara King’s Council has branded the Swapo Party Elders’ Council ignorant following its suggestion last week that...

Entrepreneurs: When the going gets...

16 hours ago | Banking

Entrepreneurs are people are skilled at adapting and being resilient in uncertain situations and come up with new, different and innovative ideas.“The challenges currently being...

TransNamib’s shocking meltdown

16 hours ago | Columns

The Namibia Transport and Allied Workers Union (Natau) has become the latest organisation to hit out at the TransNamib board for alleged interference. The Paul...

Laughter is the best medicine

16 hours ago | Health

Henriette Lamprecht – It’s contagious and good medicine – not only for the body, but for the mind and soul as well. It lightens your...

Smelling the roses is not...

16 hours ago | Health

In today’s rat race it’s easy to lose your way in the daily grind while trying to keep your head above water. Our responsibilities as...

Load More