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/ 22 November 2004
South African Breweries, the South African arm of global brewing giant SABMiller (SAB), has confirmed that it will invest R5-billion in its South African operation over the next five years to expand capacity and to improve its ability to meet changing consumer needs locally, underpinning the company’s strong growth prospects.
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/ 15 November 2004
Listed retailer Woolworths Holdings plans to repurchase R1-billion of its own shares using the proceeds from a securitisation of its in-store card book, the company revealed on Monday. The move could possibly be in preparation for a future black economic empowerment deal.
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/ 11 November 2004
South Africa’s largest commercial banking group, Nedcor, has confirmed its previous earnings forecasts for the financial year to the end of December, saying on Thursday it expects its headline earnings per share (excluding translation gains or losses) to be between 6% and 19% lower than the 502 cents per share reported in 2003.
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/ 10 November 2004
Listed retailer Edgars Consolidated Stores (Edcon) has reported an 88% rise in its headline earnings per share for the six months to the end of September 2004 to 968 cents, from 516 cents a year earlier. The group doubled its interim dividend while maintaining two times earnings cover, to 494 cents per share from 247 cents in 2003.
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/ 8 November 2004
Sun International has consolidated its leading position in South Africa’s R7,34-billion casino industry over the past year, and is now ready to pursue regional and international opportunities in the gaming, hotel and resort sectors, according to CEO Peter Bacon.
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/ 2 November 2004
Friday November 5 marks the last day of trading of shares in Metro Cash & Carry (Metcash) as such on the JSE Securities Exchange (JSE), following the buyout of the company’s African and South African operations by a consortium of Metcash management, a black empowerment consortium and associates.
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/ 28 October 2004
Food retailer Shoprite Holdings is expecting an "exciting" and much-improved second half of 2004 compared with the same period in 2003, with its turnover in the three months from July to September rising by 9,3% on a like-for-like basis, continuing the upward sales trend it experienced in the latter part of its financial year to the end of June 2004.
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/ 27 October 2004
De Beers Consolidated Mines (DBCM), the South African division of global diamond giant De Beers, has concluded the sale of Dancarl Diamonds, a mine in the Northern Cape, to a black-owned partnership consisting of Sedibeng Mining and Meepong, a women’s grouping, together with Australia’s Crown Diamonds NL.
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/ 21 October 2004
Small retail pharmacies will soon be extinct in South Africa unless new regulations governing medicine pricing and dispensing margins are changed, according to the group leader of listed health and beauty retailer New Clicks Holdings, Trevor Honneysett. He also said the legislation has not succeeded in reducing medicine prices.
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/ 21 October 2004
Health and beauty retailer New Clicks Holdings is confident that its model for including pharmacy dispensaries and related health services across its Clicks chain of stores will prove profitable, even if the current regulations fixing dispensing fees and establishing single exit prices for medicines prove to be permanent.