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Companies&Markets
JSE HIGHLIGHTS: TOP 10 TRADING ANALYSIS
VALUE
Share
MTN GROUP SAB BATS ANGLO SASOL BHPBILL NASPERS-NIMPLATS SHOPRIT SANLAM
TOP 10 RANKINGS
MOST ACTIVE P/E RATIO
(c)
VOLUME
Total trade Close % chg
(R) (c)
DIVIDEND YIELD
30-day % chg
NAIL NAIL -NALLIANCE VERIMARK DBSTEXX2 ISA METMAR TELEMASTR DBSTNPND ASTRAL 27 27 19 16 12 11 10 9 9 8 0 0 0 4 -2 16 26 0 -11 6 1 652 400 219 215 190 130 108 99 93 55 1 0 744 -16 -3 8 4 1 20 0
DIVIDEND COVER
12-mth % chg
HCI RICHEMONT LONFIN PALAMIN ONELOGIX BRIMSTON BRIMSTN-NNORTHAM PRIMESERV BRAIT 9 9 9 10 12 16 16 16 20 25 19 39 1407 690 n/a 43 39 171 551 1055
Share
MERAFE FIRSTRAND MTN GROUP STEINHOFF SANLAM ABIL OLDMUTUAL COMAIR PAN-AF TELKOM
Share
MTN GROUP IMPLATS ANGLO BATS SASOL SAB SHOPRIT FIRSTRAND STEINHOFF IMPERIAL
Close
16499 15700 26950 43629 37120 37048 18262 2940 3010 19169
% chg
0.48 0.31 -1.39 0.39 -0.47 -0.46 3.76 -0.33 -0.43 -0.59
Deals
3 810 3 467 3 462 3 206 2 992 2 904 2 550 2 469 2 467 2 429 CURRO ORION BEIGE VPIF CADIZ CAPCO ASCEN A AMPLATS EFFICIENT INGENUITY
30-day % chg
1 180 798 811 692 165 898 672 326 833 652 305 310 505 832 985 407 335 424 309 532 296 250 449 956 249 221 042 225 913 685
16499 37048 43629 26950 37120 27830 56425 15700 18262 3953
+0.48 -0.46 +0.39 -1.39 -0.47 -1.86 -0.30 +0.31 +3.76 +2.27
BUSINESS BRIEF
Austro down after warning to investors
SHARES Industrial supplies company Austro fell 17.39% to 38c yesterday after warning shareholders it expects to report a headline loss per share for the year ended August of 4.9c-5.7c from headline earnings of 1.6c the previous year. Staff Writer
Nutritional slimmer
OUTLOOK Nutritional Holdings expected basic and headline earnings per share for the six months ended August to be more than 20% lower than in the previous corresponding period, the health food company said yesterday. Staff Writer
RAUBEX
Share price, daily close (cents) 1850 Close: 1775 1700 2.31% 1550 1400 1250
M J 12 J A S O N
Trustco secretary
APPOINT JSE-listed Namibian financial services company Trustco said yesterday DJ Steyn would replace M Gebhardt as company secretary on December 3 following Ms Gebhardts resignation. Staff Writer
Pioneer appointment
DIRECTOR Pioneer Foods appointed Gerrit Boel Pretorius as its lead independent director yesterday. Staff Writer
RAUBEX, a builder of roads and associated infrastructure saw revenues rise 7.7% to R2.8bn in the six months ended August, despite a challenging operating environment. The group says it has continued to grow revenues and maintain a stable R5bn order book on a steady flow of new tender work. It declared an interim dividend of 30c per share in the period. The roads division is beginning to show signs of stabilising, supported by a relative easing of competitive pressures, financial and commercial director Francois Diedrechsen said yesterday. But he said the group was monitoring this positive development against the effect of the Gauteng tolling dispute, and labour unrest across its operations. The South African National Roads Agency accounted for about 50% of the groups workflow, and there was concern that the agencys budgets could be cut, Mr Diedrechsen said. Labour problems had forced mining clients to shut down operations, and along with the recent truckers strike would definitely have an impact on the second half of the year. Group operating profit was up 3.1% to R291m, with headline earnings per share up 3% to 95.7c per share from 92.9c in the period last year. Cash flow from operations rose 68.6% to R444m, from R263m previously. Capital expenditure soared to R281m from R88m in the period last year. Mr Diedrechsen said the groups healthy balance sheet and strong cash position allowed it to take advantage of opportunities arising from the more stable competitive environment in the South African roads sector, and also African infrastructure projects.
R AU B E X Half Year Revenue (Rbn) Pretax (Rm) Net Income (Rm) Diluted HEPS (c) Dividend (c)
Raubex said it had reached a settlement with the Free State provincial government over nonpayment for work done on roads. The same problems contributed to the closure of one of its competitors, Sanyati. In terms of the settlement R130m was outstanding at the end of August, and was now payable in two instalments of R97.5m this month and R32.5m payable in April next year. The group also said despite a slight improvement in trade receivables, it continued to face slow payments on a number accounts. Hugan Chetty, analyst at Afrifocus, said yesterday the Raubex construction division had increased revenue by 9.4% to R630m, with operating profit shooting up 176.3% to R69.2m. But Mr Chetty said Raubex saw operating profit fall in its aggregates division, while revenues and operating profit fell in its international operations on completion of the Namibian roads contract, even as margins in that unit more than doubled to 19.2%.
allixm@bdfm.co.za
KAGISO Medias plan to gain full control of the Blue Bulls rugby team has been derailed with the company saying yesterday it has been unable to reach a deal with the club by the deadline. It is known that South African billionaire Johann Rupert, who is the chairman of Remgro, Kagisos parent, is an avid sports fan. Kagiso bid in September to buy the Bulls but yesterday announced the deal had collapsed. Kagiso CE Murphy Morobe said the parties could not finalise a deal in time. The assets in question presented an opportunity for Kagiso to extend our marketing and communications value chain but we were unable to carry the negotiations to a successful conclusion and they were cancelled by mutual consent. Kagiso made a R335m offer for the shares of Trinergy Brand Connectors, Experiential Marketing Proprietary and EXP Momentum. Through the deal, Kagiso would have also indirectly acquired 100% of the shares in Blue Bulls Rugby Holdings and thus a majority 50% interest in the Blue Bulls Company. These companies are owned by the Marc Group of companies. Remgro owns more than 30% of Marc already. The acquisition was supposed to see Remgro and its subsidiaries having direct and indirect interests in one English and four South African rugby clubs. Remgro has a 50% stake in Premier Team Holdings, which owns the Saracens in England. The Marc Group also has a 24.9% stake in the Welkom-based Griffons Rugby Union and a 24.9% share-holding in Western Province Rugby. Kagiso would look to buy other assets. Going forward, it remains our strategic intention to pursue a mix of organic and acquisitive growth, Mr Morobe said. We are strongly capitalised, with significant capacity for further expansion in both our domestic market and in selected sub-Saharan territories.
andersona@bdfm.co.za
BUSINESS Connexions share price rose as much as 4% in early trade after the technology company reported its best results in eight years. The share price closed 2.02% higher at R5.05. The companys headline earnings per share increased to 39c for the year to August, from 17.3c last year. Revenue grew 35.1% to R5.8bn and the gross profit margin increased from 30.9% to 31.5%, thanks to the acquisition of Canoa and some businesses of UCS, which had exceeded expectations, said CEO Benjamin Mophatlane. Business Connexion has entered into an agreement to acquire privately-owned technology management company Integr8 IT, part of the Integr8 Group, for R126m. The acquisition would enable Business Connexion to enter the mid-sized corporate market across SA and the rest of Africa, Mr Mophatlane said. In addition, Integr8 IT was expected to enhance the groups ability to win market share in the public sector, Africa and the store environments in the retail sector, where this acquisition would add to the services its subsidiary CEB Maintenance provided. Mr Mophatlane said though the company had a great year, the market was still challenging. All key businesses performed
BUSINESS CONNEXION Full Year 2012 2011 Revenue (Rbn) 5.8 4.3 Pretax (Rm) 281.7 166.7 Net Profit (Rm) 196.1 102.3 HEPS (c) 39 17.3 Dividend PS (c) 20 14
PLEASED: Business Connexion CEO Benjamin Mophatlane releases the groups results in Midrand yesterday. Picture: MARTIN RHODES
well and are profitable, including the technology unit. The acquisitions have also delivered and exceeded our expectations, he said. The UCS division contributed
about R1.1bn to group revenue with an operating profit of R116.9m. The Canoa division accounted for R860.5m in revenue and R106.5m in operating profit. Both these performances
are ahead of targeted forecasts and demonstrate the synergistic benefits of the divisions within the group, said Mr Mophatlane. The groups international division reported revenue growth of 26.8% to R467.2m for the year, demonstrating the exciting growth potential in Africa. The continued progress in Africa is pleasing with the groups operations across the continent maturing, Mr Mophatlane said. This has translated into an improved and less volatile financial performance with the group taking market leading positions in some key, high growth African economies. More than ever, African expansion presents a significant opportunity for (the company) and accessing these markets remains a key strategic focus. With approved investments for setting up data centres in Nigeria and Kenya, the group is well positioned to extend its cloud services offerings to the rest of the African continent. It will further expand into Ghana, where it already provides some services, Ethiopia, Angola and Zimbabwe.
mochikot@bdfm.co.za
GETTING IT RIGHT
CORRECTION The report Cipla Medpro appoints two deputy CEOs named one of the appointees as Mark James, which is incorrect. He is, in fact, Mark Sardi.
COMPANIES INDEX
Editorial: Raubex ................................................ Business Connexion ........................... AngloGold, Gold Fields ....................... Kagiso Media ...................................... Protech Khuthele ................................ Telkom ................................................ Aquarius Platinum .............................. Barclays, Standard Chartered ............ Wescoal .............................................. Anglo American Platinum .................. Financial: Raubex ................................................ Business Connexion ........................... Protech Khuthele ............................... 13 13 13 13 14 14 14 14 14 14 15 17 19
A HIGHER gold price will not be enough to offset production losses that have eaten into the quarterly earnings of South African miners AngloGold and Gold Fields, a Reuters poll found. Smaller rival Harmony Gold by contrast was expected to post a big improvement in earnings, because its overwhelming domestic focus means it is affected most by rand currency factors. The consensus forecast for AngloGolds September earnings per share is $0.655 from $0.65 previously, Gold Fields is R2.128 from R2.50, and Harmony is expected to turn a profit of R1.077
from a loss of R0.20 in the September quarter last year. The average gold price in the September quarter rose 3% to $1,652/oz. And weakness in the South African currency meant in rand terms the average price during the July-September quarter was up 4% to R438,000/kg. The rand gold price has an especially big effect on Harmonys bottom line, since over 90% of its output comes from SA. Gold Fields gets about 50% of its production from its South African home base, while for AngloGold, SA accounts for around 40% of its global output. AngloGold Ashanti has already said it expects production
for the September quarter to be 4% lower than its previous forecast of between 1.07-million ounces and 1.10-million ounces, because of labour unrest in SA and lower than anticipated production at Obuasi in Ghana. Gold Fields has warned of a higher strike outcome, with its September production about 6% lower because of wildcat strikes. A fire at its KDC operations also reduced production to about 810,000oz during the quarter. Harmonys first-quarter results are due tomorrow, with AngloGolds third-quarter earnings on Thursday. Gold Fields third-quarter results are due on November 26. Reuters
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