THURSDAY, 12.30PM
THREE black empowerment groups are set to make a multi-million rand investment in PQ Africa, the company formed from the merger of Persetel and Q Data.
Making the announcement on Wednesday at the release of Q Data’s annual results, current Q Data chairman and CEO of Persetel Q Data Africa (PQ Africa) Leen van der Bijl said the black investors will be named once the terms have been negotiated for funding their investment.
Meanwhile, Q Data increased healdine earnings a share 36% to 28,6c, with operating income up 53% to R101,7-million, built on a 65% increase in turnover to R1,1-billion. After-tax income stood at R65-million, and a final dividend of 4,4c was declared (3,3c last year).
The latest results will be the last independent results from Q Data before the R12-billion merger with Persetel takes effect.
BUSINESS BRIEFS
SACTWU HUNTS DEFAULTERS THE SA Clothing and Textile Workers’ Union says it is tracking down nearly R10-million in provident and healthcare fund contributions, union subscriptions and council levies deducted from workers’ salaries but not forwarded to the clothing sector bargaining council by at least 53 clothing manufacturers in KwaZulu-Natal. Some larger companies have paid up after receiving demands, but the union is seeking the liquidation of other companies in an effort to recover the misapproprated funds.
R119 BOND MATURES GOVERNMENT’s R119 gilt matures on Thursday, and Reserve Bank assistant GM for money and capital markets Roelf du Plooy beleives it could ease the rising money market shortage. The shortage has risen to R9,6-billion this week, from R7,9-billion at the beginning of the month, mainly due to maturity of Reserve Bank dollar forward contracts. Payments of about R7,5-million are due on a variet of government bonds.