On Friday, the food and consumer goods company Premier Group issued its abridged pre-listing statement as part of Brait’s plan to raise R3.6-billion.
Brait plans to list the company on March 24 at an offer price of R53.82 a share, which would value Premier at R6.9-billion. Brait expects to retain 47.1% of shares in the Premier Group.
Premier employs over 8 100 permanent and contracted employees, and the group operates 13 bakeries. In addition, the group owns seven wheat and three maize mills.
Renewable energy profits boost Bidvest
Bidvest this week reported that its profits during the six months that ended December 2022 were boosted by its interests in agriculture, mining, renewable energy, travel and tourism. The group’s trading profit for the half year increased by 15% to R5.8-billion. Sales at Bidvest Renewables and Voltex increased five-fold during the six months.
“The strategic decision to bulk up on the renewable energy business during the last two years has been a resounding success with exponential revenue growth in the recent periods,” Bidvest said in a statement.
Shoprite employs nearly 3 900 additional people
Shoprite this week said it had employed 3 881 extra people in its supermarket businesses during the 26 weeks that ended January 1 2023.
The retail group said it also gained 4 480 new staff from January this year after it purchased assets from Massmart. In July 2022, Shoprite employed 145 595 people.
Nedbank to outlay R5bn on a share buyback
Nedbank has announced it will spend R5-billion on repurchasing its shares and pay its shareholders a record financial dividend.
“A strong balance sheet and excess levels of capital enabled the group to declare a record-high final dividend,” the bank added.
The company will pay its shareholders a final dividend of R8.66 a share for a total payout of R4.4-billion.
Coal, manganese units boost ARM earnings
This week, African Rainbow Minerals (ARM) reported a 40% increase during the half year ended December 2022.
Its headline earnings increased 40% to R5.2-billion from R3.7-billion in the first half of 2021, boosted by higher profits from its coal and manganese operations.
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