Earnings

Cartrack impresses with solid H1 earnings. Here’s how the business navigated COVID-19 headwinds

Cartrack has reported solid results amid the COVID-19 crisis as it more than quadrupled its interim dividend and a 21 per cent increase in its headline earnings per share. The group’s South African services saw an increase in subscription revenue growth of 17 per cent and its revenue grew 16 per cent to R1.08 billion. Cartrack CEO, Zak Calisto joins CNBC Africa for more.

Africa’s Sasol swings to $5.3 bln annual loss on lower oil prices, write down

Investors have been concerned by the company’s debt, largely due to delays and cost overruns at LCCP in Louisiana, that forced its former joint chief executive officers to resign in a bid to restore shareholder confidence.

COVID-19: Peregrine Group CEO on how to look at the FY numbers

Peregrine Holdings reported a 15 per cent increase its assets under management to R142 billion, while the group’s profit for the year slumped by 37 per cent to R328 million. The company has not declared a final dividend and expects markets volatility to last between 6 and 12 months. Peregrine Group CEO, Robert Katz joins CNBC Africa for more.

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.

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