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Calgro M3 issues maiden dividend, posts robust results
Published: 13 May 24
Residential-focused property developer Calgro M3 has issued a maiden dividend of 9.49c a share after posting a record gross profit margin of 27.25% for the financial year ended February 29, and profit after tax increased to R196.8-million, up from R186.29-million in the preceding financial year. The company also published a dividend policy that will see it pay yearly dividends to a minimum of 5% of headline earnings a share. The total dividend payable is R10.86-million for the financial year under review.
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Calgro M3 issues maiden dividend, posts robust results
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Poultry association calls for vaccination to prevent H7N6 avian influenza outbreak
Published: 13 May 24
The South African poultry industry is calling for immediate intervention to avert an outbreak of the H7N6 strain of highly pathogenic avian influenza (HPAI) that it is grappling with, following a year of significant losses, including the culling of 9.5-million birds. While traditionally reliant on a stamping out policy, the industry acknowledges the inefficiency of this approach against the H7N6 strain, industry organisation the South African Poultry Association (SAPA) said.
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Poultry association calls for vaccination to prevent H7N6 avian influenza outbreak
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Seifsa, Numsa conclude three-year metals, engineering sector wage agreement
Published: 13 May 24
After three formal engagements, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and trade union the National Union of Metalworkers of South Africa (Numsa) have concluded the terms of a three-year wage agreement for the metals and engineering sector. The agreement is for the period from July 1 to June 30, 2027.
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Seifsa, Numsa conclude three-year metals, engineering sector wage agreement
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Contractors, sub-contractors battling as late payments accelerate – MBA North
Published: 13 May 24
The construction industry value-chain is at risk of collapsing as shrinking margins, unfair practices and payment issues continue to undermine the sector. This is according to members of the Master Builders Association (MBA) North, who warn that “urgent dialogue and change” are needed to address industry issues and avoid further job losses and bankruptcies.
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Contractors, sub-contractors battling as late payments accelerate – MBA North
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Raubex sees 28% bounce in its order book despite challenging environment
Published: 13 May 24
Raubex saw a 28% jump in its order book for the financial year ended February 29, to R25.55-billion, compared with R20-billion in the previous financial year. “This is testimony to our diversified business model,” said CEO Felicia Msiza on Monday as the group released its financial results.
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Raubex sees 28% bounce in its order book despite challenging environment
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Death toll in George building collapse rises to 27
Published: 13 May 24
The George municipality has reported that, as at 15:00 on May 13, 25 people still remain unaccounted for following last week's building collapse. The death toll has risen to 27, while 13 people remain in hospital.
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Death toll in George building collapse rises to 27
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Ramaphosa denies pre-election loadshedding respite is a ‘political ploy’
Published: 13 May 24
President Cyril Ramaphosa has entered the politically charged discussion on the reasons behind the recent dramatic reduction in loadshedding ahead of what is expected to be a highly competition election and amid allegations that the reprieve is being staged managed to improve the governing party’s prospects and will, thus, not be sustained. Writing in his weekly newsletter at a time which Eskom had refrained from implementing the unpopular rotational power cuts for a period of more than a month and a half, Ramaphosa denied that it was a “political ploy ahead of the elections”, while indicating that it was “too early to say that loadshedding has been brought to an end”.
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Vodacom FY earnings dip on challenges, revenue up
Published: 13 May 24
JSE-listed Vodacom Group on Monday posted double-digit increases in revenue, however, its earnings a share for the year ended March 31, 2024, declined. The group reported a 11.2% decrease in earnings a share to 842c, along with a 10.8% decline in headline earnings a share to 846c during the year under review.
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South Africa must create a business-friendly environment to attract foreign investment
Published: 13 May 24
Business organisation Business Leadership South Africa CEO Busiswe Mavuso writes in her latest weekly newsletter that the withdrawal of foreign investment seems to be “dominating” at present. She avers that while foreign investment in South Africa hinges on many factors, including global strategies and the country’s links to the rest of the world. The more attractive a country is, the more investment it receives.
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South Africa must create a business-friendly environment to attract foreign investment
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Traxtion refurbishes, adds 5 Transnet class 39 locomotives to fleet of 60 in eight African countries
Published: 10 May 24
Private rail operator and services company Traxtion has refurbished five class 39 locomotives it bought from State-owned Transnet at its workshop in Rosslyn, Gauteng. This is part of its fleet expansion to meet the growing demand of freight rail services in Africa. "Traxtion is preparing for the next phase of adding new locomotives to the fleet. We now have a fleet of 60 locomotives and are operating in eight African countries," the company said in a statement this week.
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