WEDNESDAY, 11.30AM
ANGLO American Corporation has posted a 23% increase in earnings for the year to end-March, bringing total headline earnings for the year to R5-billion.
Headline earnings a share increased to R21,44 (from R17,46 in 1996), while total net earnings were up 61,4% to R7,1-billion, giving a net shar earning of R30,37 (R18,85). A final dividend per share of R5,40 was declared, bringing the total dividend pershare for the year up 23% to R7.
BUSINESS BRIEFS
MAY FINANCING The finance department said on Tuesday that R3,432-billion in financing was obtained through government bonds last month, while short-term loans increased by R1,312 in May. Total financing for May totaled R5,910-billion. The exchaquer account received R1,165-billion in May from the sale of a 30% equity stake in Telkom.
AECI EXPLODES INTO ZAMBIA AECI Explosives has bought 80% of Zambia’s major explosives manufacturer through its wholly owned subsidiary ICI Explosives (Africa). ICI Explosives purchased 34% of the Zambian government’s 54% holding in Kafironda from parastatal Zambia Industrial Mining Corporation. The remaining 20% of Kafironda shares will be moved to the Zambia Privatisation Trust Fund for flotation on the Lusaka stock exchange. ICI Explosives also bought Kafironda shares from other multinationals to give it an 80% stake in the company.
NAM BREWERY PLAN GOES FLAT SA BREWERIES’ plans to introduce new products in Namibia have been set back by the Namibian government’s refusal to grant a trading licence. SAB beer division representative Adriaan Botha said the saga had been dragging on ”for years”, with SAB being turned down each time it approached the Namibian government for a permit.