Capital Appreciation, a JSE fintech player raised its final dividend by over 17 per cent following an increase in annual revenue and profits. The payment solutions provider saw increased demand for its digital and cloud based services and said the Covid-19 pandemic has not impacted earnings negatively. Bradley Sacks, Joint CEO at Capital Appreciation joins CNBC Africa for more.
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 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.
Famous Brands, the owner of several of South Africa’s best loved restaurant chains has scrapped its dividend for the second half of its financial year to preserve its balance sheet. The owner of Steers and Tashas warned that the COVID-19 pandemic has had a significant negative impact on the group. Famous Brands CEO, Darren Hele joins CNBC Africa for more.
Food producer Tiger Brands reported a 35 per cent fall in half-year headline earnings and has deferred its interim dividend due to uncertainty by the Covid-19 outbreak. The group expects Covid-19 to unfold significant challenges to the business in the near future. Tiger Brands CEO, Noel Doyle joins CNBC Africa for more.
Hospital group Netcare saw a plunge in its hospital admissions in March and April with last month’s figures falling by 49.5 per cent. However, the group has noted that the easing of lock-down restrictions in May has seen a slight uptick in hospital patients. The group has scrapped its interim dividend and has committed R150 million to prepare its ICU and high care facilities to deal with Covid-19 cases. Dr Richard Friedman, CEO, Netcare joins CNBC Africa for more.
Momentum Metropolitan has canned its target to deliver normalised headline earnings of as much as R4 billion in 2021, due to the impact of Covid-19. The financial services group says it’s not certain how the health and economic consequences of the pandemic will impact future earnings or sales. Hillie Meyer, CEO of Momentum Metropolitan Holdings joins CNBC Africa for more.
Afrimat’s annual operating profit surged 27.5 per cent to R471.2 million, boosted by strong demand from its iron ore operations. However, the construction and mining group withheld its final dividend to use the cash to cement its balance sheet from Covid-19. Afrimat CEO, Andries Van Heerden joins CNBC Africa to review the numbers.