Business Report | 2012/05/10 @ 11:14:00

ADCORP's latest employment index registered annualised growth of 4.3% in Apr., following a rise of 6.8% in Mar. The index is regarded as the most representative barometer of employment trends in SA. Temporary work (5.8%) and permanent jobs (4.2%) were the strongest performers, with formal sector employment representing 72.3% of the gain (50 587 jobs), while informal sector employment accounted for the rest (19 193 jobs). ADCORP found that employment growth was strong across all categories, but fell sharply in mining, down 11.8%, and manufacturing, down 6.2%. Employment in the transport, logistics and communication sector rose 19.4% and retail and wholesale trade recorded an 11.2% increase. Employment in the construction industry was up 7.0%. This news brief represents a summary of the original article.

Fin24.com | 2012/05/10 @ 11:14:00

COAL OF AFRICA LTD today announced that it had received approval from the SA government for its purchase of the Chapudi coal prospect. COAL offered to buy the property from RIO TINTO last year for a consideration of $75m. COAL CE JOHN WALLINGTON said the acquisition "provides significant scale and optionality in the planning of future mining projects, and will enable the consolidation of several contiguous tenements in the Soutpansberg coalfield". This news brief represents a summary of the original article.

JSE Securities Exchange - SENS | 2012/05/10 @ 11:05:00

OMNIA HOLDINGS yesterday said it was delighted to announce the successful completion of its world-class Nitric Acid Complex in Sasolburg, which started operating towards the end of Mar. 2012. In 2010, the company announced that R1bn was raised for the project, with a capital budget of R1.4bn. Yesterday, OMNIA said it was pleased to announce that the expected cost of the complex will be below budget. Group MD ROD HUMPHRIS said "the capital cost at less than $200m compares favourably with international benchmarks for similar plants of $500m". He was also pleased that the start-up was achieved in a record construction period of 21 months. The complex will have a positive impact on OMNIA's performance going forward and updated guidance in this regard will be provided when the group's results for the FY to end-Mar. are released on Jun. 26. This news brief represents a summary of the original article.

Beeld | 2012/05/10 @ 11:04:00

MAS PLC has acquired a significant property asset in Glasgow, Scotland. The property comprises 42 500m² and was acquired for €7.4m. The site includes an industrial building of 18 200m², which is being leased at an annual cost of €740 000 to a financially strong tenant. The acquisition brings the value of MAS's property portfolio to €61m in assets. MD LUKAS NAKOS said although the property yielded an acceptable revenue, it offered significant opportunities for capital growth due to its prestigious location and potential for upgrades. This news brief represents a summary of the original article.

Fin24.com | 2012/05/10 @ 10:38:00

SAPPI today posted a return to Q2 profit, helped by cost savings and a solid performance in its chemical cellulose business. The company reported HEPS of 10 US cents for Q2 to end-Mar., against a loss of 2c y/y. CE RALPH BOETTGER said the company's European performance was "particularly pleasing". SAPPI said the Southern African chemical cellulose business continued with a strong performance, driven by solid sales volumes. SAPPI expects its Q3, which is seasonally weaker, to be further impacted by planned annual maintenance shuts at a number of its major pulp mills. For the FY, the company expects its operating profit excluding special items to be in line with the previous FY. SAPPI also said it would consider refinancing its higher cost debt, including bonds due in 2014, when market conditions are favourable and it made economic sense to do so. This news brief represents a summary of the original article.

Business Report | 2012/05/10 @ 10:21:00

NUTRITIONAL HOLDINGS expected to report a HLPS of 0.33c-0.35c/share for the FY to end-Feb., the company said yesterday. In the previous financial year, the company posted HEPS of 0.14cps. According to sources, the previous year's results were aided by new IFRS requirements, which recognised deferred tax assets on estimated tax losses. The company expected to publish results for the period under review on May 24. NUTRITIONAL HOLDINGS shares were unchanged on the altX yesterday, closing at 5c. This news brief represents a summary of the original article.

Business Report | 2012/05/10 @ 10:21:00

THE SPAR GROUP yesterday said it will focus on higher-margin fresh food, expanding its store base and adding new categories. CE WAYNE HOOK said the group's strength was its service department, where cooked meals and baked goods were prepared, which made higher margins than basic groceries. HOOK said the group would focus on "ratcheting up the performance of the service department". SPAR will continue its expansion programme, including its new pharmacy business. It opened 10 pharmacies in the past six months and will open another 10 in the current financial year. HOOK said 25 Spar stores would be opened this financial year, of which 12 were already operational. A further 15 Tops liquor stores would be opened, while Build It would open a further 20 stores this year. SPAR closed down 4.86 % at R112.50 on the JSE yesterday. This news brief represents a summary of the original article.