FirstRand this week reported a 15% increase in its headline earnings to R18-billion for the half year ended December 2022 from R15.8-billion in the previous comparable six months.
“FirstRand continues to deliver attractive growth and superior returns to shareholders. Particularly pleasing is the return on equity of 21.8%,” the bank said.
Loadshedding costing Woolworths R15m a month
Woolworths this week said loadshedding is reducing its adjusted operating profit in southern Africa by about R15-million a month. The retailer is spending extra on its fresh food business due to increased waste and diesel costs in its supply chain and stores. “South Africa is facing a devastating energy crisis, which continues to have a pronounced impact on our economy as well as business and consumer confidence.”
Sun International expects higher profit for 2022
Sun International on Friday said it expected to report a significant improvement in earnings for its 2022 financial year.
“Our urban casinos’ income rebounded with strong growth in income and improved margins. Our hotels and resorts, especially Sun City, had an exceptional second half. SunSlots continued its strong performance while SunBet achieved exceptional revenue growth,” it said.
Power cuts reduce Impala Platinum’s output
This week, Impala Platinum (Implats) announced that power cuts constrained its South African processing plants during the half year ended December 2022.
Implats estimated it lost 9 000 ounces of platinum group metal (PGM) ounces of mined volumes, and it deferred about 38 000 ounces of refined PGM output due to power cuts during the half year.
Murray & Roberts’ order book declines to R16bn
Construction group Murray & Roberts this week announced that over the six months the company’s liquidity has come under pressure due to the
continuing effects of the pandemic and the conflict in Ukraine.
At the end of December 2022, the group’s order book was R16.1-billion, down from R18-billion at the end of June last year.
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