CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Net World Sports expands into South Africa
Multi-award-winning international sports equipment retailer, Net World Sports, has launched a new website to better serve customers in South Africa with their products that have graced the likes of the UK’s Premier League, the US’s Major League Soccer and the Australian A-League.
2. Sappi's 29% decline in profits hurts its shares
Sappi's share price declined by more than 8 percent on the JSE after the group reported a 29 percent decline in profits for the second quarter to end March to $72 million (R1.04 billion), negatively impacted by a declining demand of its major graphic paper product categories, which were down between 8 percent and 13 percent in Europe and North America.
3. Steinhoff shares tumble on negative financials
Steinhoff International’s share price tumbled more than 20 percent on the JSE on Thursday, in a belated reaction to its results published when the market closed on Tuesday.
4. MTN SA’s prepaid service revenue down 5.1%
The recent Independent Communications Authority of South Africa (Icasa) regulations for out-of-data bundles has hit MTN South Africa’s service revenue in the quarter to March, the company said yesterday as it prepares to list its Nigeria unit in Lagos later this month.
5. AngloGold Ashanti plots its exit from SA
AngloGold Ashanti on Thursday announced plans to sell all its remaining South African mine Mponeng, the world’s deepest mine outside Carletonville, as the company exits from the country.
6. Vitality HealthyDining benefit offers members up to 25% cash back through Uber Eats
Discovery Vitality is launching HealthyDining – a brand-new Vitality benefit that offers members up to 25 percent cash back on healthier meal options when ordering takeaway food via the Uber Eats app.
7. Equites Property Fund shines with 47.6% growth
JSE-listed property company Equites Property Fund, whose footprint extends to the UK, grew its overall portfolio by 47.6 percent to R12 billion in the year under review.