Latest news with #Enslin
The Citizen
3 days ago
- Sport
- The Citizen
R7m AstroTurf project sparks hope, opportunity at Overkruin
A transformative partnership between Unite180 Church and Hoërskool Overkruin in Sinoville, in the north of Pretoria, has resulted in the launch of a world-class AstroTurf field valued at R7-million. This landmark project is a powerful example of how faith, community engagement, and practical action can come together to uplift the next generation. According to Senior Pastor David Grobler, the school upliftment initiative is not just an act of charity, it's a calling. 'We believe the Church should not be removed from society, but right at the heart of shaping it. 'It was our calling to get involved. Our faith must be visible and transformative, like a city on a hill that cannot be hidden,' he said. The school, affectionately known as 'Ovies', is deeply rooted in the community and has strong connections to many church members, including proud alumni. When the church learned of the school's need for a better sports facility, the vision for the AstroTurf field was born. The proposal was presented during a Sunday service, where the congregation responded with unanimous support, demonstrating the church's ethos of collective action and generosity. Before the upgrade, Overkruin's sports field was a standard grass pitch that became unusable during the rainy season, limiting training and competitiveness. With the installation of the AstroTurf, learners will now have access to a professional-standard surface that supports year-round sport and fitness. 'This is more than just a sports upgrade. It's a declaration of hope and value. We want every learner and every player on that field to know they are seen, they matter, and they have incredible potential.' The school's Head of Sport, Heinrich Enslin, echoed this sentiment. According to Enslin, the partnership began through conversations with Unite180 members who were passionate about youth development. The need was clear, and the response overwhelming. 'The AstroTurf will significantly boost morale, encourage participation in sports, and improve physical health. 'Our hockey programme, fitness training, and PE classes will all benefit. It will also open doors to host regional and district tournaments, helping our learners compete at higher levels,' said Enslin. ALSO READ: Pretoria water outage: Where to find water from today Do you have more information about the story? Please send us an email to bennittb@ or phone us on 083 625 4114. For free breaking and community news, visit Rekord's websites: Rekord East For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram or TikTok. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
6 days ago
- Business
- IOL News
Lewis Group's growth strategy: New stores and record earnings
A Lewis furniture store. The group with store brands that also includes Beares and Bedzone, plans to open a minimum of 20 new traditional retail stores and 20 specialist bed stores in the 2026 financial year. Image: Supplied Lewis Group's robust 66.9% increase in operating profit to R1.2 billion for the year to March 31 was driven by strong credit sales, expanding margins and good growth in the debtors' portfolio. The exceptional results saw investors drive up the share price by 6.28% on Thursday afternoon to R83.45, bringing the rally in the price to 83% over 12 months. Satisfactory paying customers for the retailer of furniture, home appliances, electronics and homeware reached a new record high. The operating margin improved significantly by 790 basis points to 22.7% from 14.8%. CEO Johan Enslin said in an interview that sales and collections in April and May were in line with their expectations. He said that exclusive new ranges in August and September would boost sales, and the group was on track to open at least 40 new stores in the upcoming financial year. The furniture retail group increased headline earnings by 53.5% to R768 million and headline earnings per share by 60.3% to 1 483 cents, supported by the positive leverage from the share repurchase program. Enslin said the share buyback program was on pause for now, after the valuation gap in the share price had closed following 8 years of share buybacks that had seen the group buy back some 48% of its shares. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The final dividend was increased 66.7% to 500 cents a share, bringing the total for the year to 800 cents a share, with the strong increase indicating confidence from management in the group's cash-generating ability and growth prospects. Cash flow from operations increased by 34%. Gearing sat at a comfortable 36.6% and the balance sheet was healthy, said Enslin. The group exceeded its medium-term return on equity target of 15%, improving the return from 9.3% to 15.4% through higher profitability and the share repurchase program aimed at maximising shareholder returns. He said they increased the store footprint to 918 with the opening of a net 33 new stores, and an additional 16 stores that were acquired through the purchase of cash retail bed specialist, Real Beds. The acquisition would be integrated into the group through the new financial year, and there were no other acquisitions on the horizon at this stage, said Enslin. Merchandise sales gained momentum in the second half and increased by 9.2% to R5.1bn. Credit sales increased 12.1%, with credit sales accounting for 68% of total merchandise sales compared to 66.2% last year. Total revenue, comprising merchandise sales and other revenue, increased by 13.5% to R9.3bn. Enslin said sales were robust, despite a constrained consumer spending environment, because the group made it easy to buy on credit and because there were items in the home that needed to be replaced periodically. He said the gross profit margin strengthened 30 basis points to 43.4% due to lower negotiated shipping rates on imported merchandise in the second half as well as the favourable movement in the rand/US dollar exchange rate. The debtors' book grew by 14.5% and the portfolio was of a high quality, said Enslin. Satisfactory paying customers increased to a high 83.5% from 81.3% in the previous year, and the collection rate ended at 78.9%. Non-performing accounts reduced from 5.5% to 4.1% of credit customers. On the outlook, Enslin said geopolitical tensions had created uncertainty across international markets and increased business risks locally. This uncertainty was compounded by recent instability within the Government of National Unity, he said. 'The challenging environment has slowed the country's economic recovery and dampened growth prospects. We expect a sustained turnaround in retail spending will now take longer to materialise than previously anticipated. Consumer demand for credit is expected to remain high,' said Enslin. He said they were not expecting economic growth in the country this year and the group's growth would likely be at the expense of market share from competitors. The group intended to open a minimum of 20 new traditional retail stores and 20 specialist bed stores in the 2026 financial year. BUSINESS REPORT Visit:
The Star
13-05-2025
- Business
- The Star
Our silent guardians of ESG reporting in corporate Malaysia
In Malaysia, internal auditors are already shifting from being rule enforcers to contributors who support ethical decision-making.—Unsplash Sustainability has become a priority in Malaysian boardrooms, and ESG reporting is no longer just a formality. It now serves as a marker of real commitment to responsible business practices. Behind the scenes, internal auditors play an essential part in ensuring that what companies report is accurate and trustworthy. With stricter requirements from Bursa Malaysia and Bank Negara Malaysia, internal auditors have taken on expanded responsibilities. Their work strengthens transparency, risk oversight and public confidence. Investors and regulators expect more than statements of good intent. ESG disclosures must be backed by reliable data. This is where internal auditors matter most—they examine claims, identify inconsistencies and promote honesty. Recent research by Lenz and Enslin (2025) encourages internal auditors to shift from being rule enforcers to active contributors who support ethical decision-making. That change is already happening in Malaysia. Interviews conducted with internal auditors and senior leaders from listed companies between July 2023 and February 2024 revealed the growing role these professionals play in ESG assurance. Their tasks include setting targets, tracking progress, and confirming the accuracy of reports. Lenz and Jeppesen's 2022 '5Ps' approach—Planet, Public, Profession, Prosperity and People—helps to describe this broader scope of work. Auditors collaborate with management to make sure environmental goals are measurable, realistic and aligned with regulations. They also help prevent greenwashing—the practice of exaggerating or misrepresenting sustainability efforts. However, many auditors are still gaining experience in environmental risk assessment, an area becoming increasingly urgent as Malaysia faces more climate-related events. According to PwC (2020), internal auditors help maintain good governance and ensure compliance with ESG rules. In Malaysia, where standards vary across sectors, they also push for tighter enforcement and more consistent expectations. But these roles come with hurdles. Audit teams in smaller firms often face staffing and budget limitations, making it difficult to focus on ESG work. Others are adjusting to new tools and data systems needed for reliable ESG audits. Training and support in this area must be prioritised. Cybersecurity is another concern. As more business is done online, ESG-related data must be protected. Internal auditors are now expected to assess whether digital systems are secure enough to handle this responsibility. They also work with boards and regulators to encourage accountability. Their ability to raise concerns and provide risk updates supports both financial and sustainability goals. Some confusion still exists between internal and external auditors, especially in ESG matters. It is important to clarify the unique value internal auditors bring: familiarity with internal operations, independence from day-to-day management and strong risk analysis skills. To support their growing roles, companies should invest in ESG-specific training, upgrade their audit tools and clarify reporting standards. Internal audit must be treated as a strategic function, not just a compliance unit. Internal auditors help ensure ESG claims are backed by real action. With the right support, they can strengthen public trust, improve corporate behaviour, and contribute to lasting improvements in how businesses operate. Dr Suhaily Shahimi Department of Accounting senior lecturer Faculty of Business and Economics Universiti Malaya
