Star 2021-09-14

EDWARD WEST edward.west@inl.co.za Raubex Group expects headline earnings per share to be at least 100 percent higher in the six months to August 31, when compared with the comparative pre-Covid 19 period, and its order books are also at record levels. The group, which has benefited from its diversified business model and increased tender activity in the construction sector, particularly in the materials supply operations, including aggregates, asphalt and bitumen, said also that the 117 cents per share headline earnings represented a turnaround from the 25.2c loss per share in the 2020 interim period, when its operations were severely impacted by pandemic lockdowns. In the roads and earthworks division, a strong order book had been secured, supported by significant contract awards by the SA National Roads Agency Ltd…

Edward West edward.west@inl.co.za VUKILE Property Fund said the trading metrics at its retail properties were largely back to pre-Covid levels. The owner of 45 shopping centres in South Africa, including Mdantsane City and Gugulethu Square, and 18 centres in Spain, said yesterday in a pre-close statement for the six months to August 31 that 473 shops across six of its retail centres had been affected by the violence in July. The group expected Sasria insurance reinstatement claims of some R125 million, and loss of rental claims from the violence of about R57m, the statement said. Full year 2022 turnover was averaging 4 percent higher than the comparable period in 2020. Collections were strong at 98 percent. Vacancies were marginally up to 3.4 percent from 3.2 percent in the…

Siphelele Dludla siphelele.dludla@inl.co.za THE ALCOHOL industry has expressed fears of another ban on sales during the upcoming busy festive season if the fourth wave of Covid-19 pandemic comes to pass. This means that the expected economic recovery could be dealt a blow as businesses in the alcohol-related industry have experienced 161 days of shutdowns since March 2020, putting just more than 240 000 jobs at risk. The Beer Association of South Africa (Basa) yesterday cautiously welcomed the further easing of Covid-19 lockdown restrictions, as a welcome relief for the industry. Basa, in a statement, said the relaxa- tion of the curfew and extension of days for alcohol sales would provide some reprieve to those businesses which have survived four alcohol bans. “However, with a Covid-19 fourth wave expected to…

Dineo Faku dineo.faku@inl.co.za FAMOUS Brands, the Johannesburg-headquartered food services franchisor, yesterday flagged a 76 percent jump in South African sales for the half-year ended in August, marking an uptick compared to a year ago when the Covid-19 pandemic severely disrupted the business. Famous Brands, whose brands include fast-food outlets Wimpy and Debonairs Pizza, said on a like-for-like basis South African sales increased by about 72 percent. Like-for-like sales refers to sales reported by all restaurants across the network, excluding restaurants opened or permanently closed during the period. “Overall, the group’s results for the six months ended August 31, 2021, are expected to show a marked recovery on the comparative period, which was severely impacted by the pandemic,” said Famous Brands. It said its South African signature brands’…

Dineo Faku dineo.faku@inl.co.za REMGRO, the Stellenbosch-based investment holding company, said yesterday that headline earnings from continuing operations for the year would climb by up to 71 percent, mainly due to the recovery of the earnings of most of its underlying investee companies. Headline earnings a share from continuing operations would likely be between 494.2 cents and 524.9c compared with 307.5c a year earlier. The group said the increase in headline earnings were partly offset, mainly by a lower contribution from hospital group Mediclinic International. Mediclinic’s contributions included the full impact of the Covid-19 lockdown measures on its results for the year ended March 31, 2021. The group said headline earnings from continuing operations for the comparative year ended June 30, 2020, were significantly affected during the second six…

CHESLIN Kolbe is on top of the rugby world at the moment. Not only is he a world champion, he has also just concluded a move to Toulon from French and European champions Toulouse, which some media reports say has placed him in the “million-pound club”. That is rather appropriate, as Kolbe is, pound for pound, the best rugby player in the world. But that doesn’t mean that it’s just a fun-filled, glamorous lifestyle for the 27-year-old from Kraaifontein. Kolbe has had to make a lot of sacrifices to get to the top, which started with leaving his Cape Town home at the Stormers and Western Province for France in 2017. However, his then-girlfriend Layla Cupido also opted to stop the process of becoming a chartered accountant, to support Kolbe…