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Edward West edward.west@inl.co.za SUPER Group shareholders will be delighted after the group yesterday announced its first dividend since 2007 of 47 cents per share for the year to June 30. Chief financial officer Colin Brown said in a telephone interview that the divi- dend followed an outstanding performance by the group for the year to June 30, in spite of the Covid-19 crisis and other challenges in the countries in which it operates, with headline earnings per share up 88.8 percent to 285.4c. “The past 12 years has seen shareholders’ equity grow from R1.2 billion at June 2009 to the current level of R13.8bn, which represents a compound annual growth rate of 22.6 percent,” said group chief executive Peter Mountford. During this time, financial leverage, represented by…
Dineo Faku dineo.faku@inl.co.za SHARES in Sun International were firmer on the JSE yesterday after South Africa’s luxury hotel, casino and online sports betting operator turned the corner with less debt and improved income from its operations during the half-year ended June 2021 Sun International, which operates Sun City, Table Bay Hotel and the Boardwalk among others, announced a more than 51 percent increase in income from operations to R3.8 billion from R2.5bn a year earlier with adjusted earnings before interest, taxation, depreciation and amortisation (Ebidta) to R739 million from R60m. The share price leapt to a high of more than 4 percent yesterday, before moderating to 0.72 percent higher at R18.24 on the JSE. Debt was slashed to R7.6bn from R11.1bn a year earlier,…
Edward West edward.west@inl.co.za MAS REAL ESTATE, the retail property investor in Central and Eastern Europe (CEE), has resumed dividends despite the ongoing Covid-19 pandemic and de- clared a dividend of 5.93 euro cents (R1.02) a share for the year to June 30. The group had declined to pay an interim due to Covid-19, and the pandemic was not yet over and vaccination rates in the group’s markets were low compared to Western European averages. However, the group said yesterday that the business had returned to “significant profitability” – it had managed to deal with the Covid-19 fallout in its markets and the group was benefiting from good liquidity. On the JSE, the share price increased 1.68 percent to R18.76 around midday yesterday. Moreover, in its main market, Romania, gross…
Dineo Faku dineo.faku@inl.co.za SEA HARVEST posted a 5 percent growth in revenue during the half-year to the end of June to R2.1 billion, up from R2bn a year earlier, on the back of strong performances from the South African fishing segment, the Cape Harvest Foods segment and its Australian operations. Group chief executive Felix Ratheb said the performance was commendable considering the company faced headwinds in the form of a firmer rand, a 5 percent reduction in the total allowable catch (TAC), additional Covid-19-related costs and operating pressures in the aquaculture segment. “However, we benefited from good fishing conditions, firm export and local retail markets, and a sound hedging strategy, delivering operating profit of R323 million for the period, 26 percent higher than the prior period, with the operating profit…
KASI football, showboating, showing off or trickery is what makes South African football unique. It is referred to in many different ways based on the perception one has on it. For most foreigners, it is something of no worth, unnecessary and useless. It is “not football”. I am saying foreigners, because this is a value in Africa. It is who we are. It is in our DNA. It is “us”. When someone wants this removed from the game we love, there is nothing left and most games have nothing because this “us” is no more. I am conscious of the fact that some people want to reduce this “us” to a race matter. This value has nothing to do with race. It is above race. In the old days when…
AS PART of US President Joe Biden’s June visit to the UK, the US and the UK announced an updated Atlantic Charter, agreeing to collaborate on research and development of 6G, or sixth-generation wireless technology. 6G, the successor to 5G cellular technology, uses higher frequencies than 5G networks, and therefore provides substantially higher capacity and much lower latency of one microsecond (a thousand times faster than 5G). It is expected that 6G will support data rates of 9.6 gigabits per second or 1 terabyte per second, allowing the download of 142 hours of Netflix movies in one second. In addition, 6G’s higher frequencies (95 GHz to 3 THz) will enable much faster sampling rates, and thus enhance sound quality. According to Hexa-X, the joint European 6G initiative, the prospective uses…
