Earnings

Tsogo Sun Hotels FY profits plunge, COVID-19 lock-downs weigh

Hospitality Group Tsogo Sun Hotels reported a 31 per cent plunge in full year headline earnings per share, with Covid-19 resulting in demand from international tourist retracting in the fourth quarter, due to global lock-downs.

Nampak swings into H1 loss, suffers R3bn impairment

Nampak swung to a half year loss of R2.4 billion as revenue plunged and it impaired its Angola and Nigeria assets by R3 billion, which is four times its market value. The also warned that future profits were in South Africa were at risk from the ban on alcohol sales due to Covid-19 lock-downs. Nampak CEO, Erik Smuts joins CNBC Africa for more.

Here’s why Twitter billionaire Jack Dorsey wants to give all his money away

“I live by the principle of everything is connected, so if someone is in pain, I’m in pain, ultimately, over time,” Dorsey told former Democratic presidential hopeful and universal basic income advocate Andrew Yang on an episode of the “Yang Speaks” podcast published Thursday.

Billionaire Jack Ma quits SoftBank’s board as its Vision Fund posts a record $18 billion loss

Alibaba founder Jack Ma is stepping down from the board of SoftBank after the company’s Vision Fund posted record-breaking losses of $18 billion.

Long4Life’s plan to manage tomorrow

Long4Life increased annual profits by 13 per cent to 43.8 cents as demand for its lifestyle brands in sports, recreation and personal beauty grew. But since its financial year-end in February, things have taken a turn for the worst because of Covid-19 lock-down restrictions. Long4Life CEO Brian Joffe joins CNBC Africa for more.

Cartrack CEO on how the company is navigating COVID-19 shocks

Vehicle recovery and data analytics company, Cartrack has positioned themselves to declare a dividend from profits generated during the financial year amid the COVID-19 global crisis. The company has declared a dividend of 54 cents per share and has seen an increase of 94 per cent of cash generated from operating activities. Joining CNBC Africa for more is Zak Calisto, CEO of Cartrack.

Airtel Africa sees increase in FY revenue, remains bullish on Africa’s outlook

Airtel Africa announced their 2019-2020 financial results that saw an 11.2 per cent revenue increase but is their current business module sustainable in a post COVID-19 environment, CNBC Africa spoke to the CEO of Airtel Africa, Raghunath Mandava for more.

COVID-19: World’s largest shipping firm expects 25% drop in container demand

Shipping giant A.P. Moller-Maersk on Wednesday warned of a sharp contraction in container demand over the coming months, citing the “profound impact” of the coronavirus pandemic on global trade.

Kaap Agri holds on to cash to avoid COVID-19 iceberg

Agri-business Kaap Agri has iced its interim dividend despite an increase in revenue and profit due to most of its operations trading during the five week COVID-19 lockdown. Kaap Agri CEO, Sean Walsh joins CNBC Africa for more.

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