Latest news with #JSE
IOL News
12 hours ago
- Business
- IOL News
Tiger Brands announces special dividend and strong interim results
Tiger Brands shareholders benefited from a share buyback program started in the first half, and as at March 31, 2025, R500 million was used to repurchase 1.8 million shares. The share buybacks would continue as the opportunities arose, the company said. Image: IOL file Tiger Brands' share price gained 5.7% on Wednesday, continuing a year-long rally in the price after the food producer declared a whopping 1 216.00 cents per share special dividend for the six months to March 31, on top of the ordinary dividend. The share price was trading at R340.67 on the JSE on Wednesday around midday, a price that had risen steadily by 77.4% over 12 months. The ordinary interim dividend came to 415 cents a share, up 19% compared with the interim period in 2024. The total amount to be paid out to shareholders via the special dividend is R1.8 billion. Shareholders would also benefit from a share buyback program started in the first half, and as at March 31, 2025, R500 million had been deployed to repurchase 1.8 million shares. The share buybacks continued after the end of the interim period, and by May 9, 2025, 4.5 million shares had been repurchased for a cumulative R1.2bn. 'We paid out the special dividend from two main considerations. The first was cash from our portfolio disposals, and the second was our overall significant improvement in operating cash flows arising also from our better performance,' chief financial officer Thrushen Govender said in an interview. Improved working capital contributed a cash inflow of R1bn in the first half, compared to an outflow of R4bn last year. Consequently, net cash from operations increased to R3.4bn from R0.8bn at the same time last year. 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. 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. Advertisement Next Stay Close ✕ Ad loading This, combined with proceeds from the disposal of non-core operations, resulted in the net cash position improving by R8.6bn to R5.9bn, which was well up from a net debt of R2.7bn at the same time last year. Govender said the share buybacks would continue if opportunities arose, and further special dividends might also be considered given the business units identified as non-core that might be disposed of, although nothing was cast in stone yet, as the non-core business units "are certainly not fire-sales.' The three companies were the chocolate business within the Snacks Treats and Beverages segment, the King Foods sorghum business, and the Chococam subsidiary in Cameroon Categories. The strong results arose from a focus on driving value for consumers, executing strategy, improved logistics optimisation, value engineering, and factory efficiencies. The result was despite the constrained consumer environment. Overall revenue was ahead of the prior year by 2% at R18.5bn, driven by 2.1% price inflation and relatively flat volume. Govender said the volume growth followed years of volume decline and was cause for celebration. He said they were on track for continued growth in the second half. 'Our revised strategy and operating model, which places the consumer at the centre of everything we do, ensures that we drive affordability consistently across the portfolio,' Tjaart Kruger, the CEO of Tiger Brands, said in a statement. The volume growth was driven by Tiger Brands' Culinary Business Unit, through deliberate volume recovery initiatives, as well as notable recovery in Milling and Baking, and Snacks, Treats and Beverages. The sale of Baby Wellbeing generated a R455m non-operational taxed profit, while the after-tax profit on the disposal of associate Empresas Carozzi. in the first half amounted to R304m. The total proceeds from these transactions was R4.4bn, with the remaining R0.6bn received in April 2025. In May 2025, Tiger Brands entered into an agreement to dispose of Langeberg & Ashton Foods. As part of the sale, the group would invest R150m towards a Community Trust that will benefit the Langeberg community through socio-economic development initiatives, and which will hold a 10% stake in the new company owning Langeberg. Tiger Brands has also made progress on the sale of its Randfontein Maize Milling operations. The maize category was identified as non-core due to the evolution of the local maize market competitiveness and the increasing establishment of regional millers. The disposal of the wheat mill would also facilitate a simpler and expedited transaction as they were located on the same manufacturing site. BUSINESS REPORT Visit:
IOL News
15 hours ago
- Business
- IOL News
African Bank reports 15% profit growth, paving the way for a bold future
African Bank, which has future plans to list on the JSE, reported a 15% surge in group net profit after tax, reaching R202 million for the six months ended March 31, 2025, driven by its ambitious Excelerate strategy as it aims for a JSE listing ahead "The results reflect the growing impact of its Excelerate strategy, as the Group continues its transformation into a diversified, fully-fledged banking institution serving both personal and business customers," African Bank said. The robust results came despite the South African economy remaining under pressure due to persistent unemployment, structural inefficiencies, and an increasing burden on welfare spending by the government. "However, the easing of inflationary pressure, further aided by the South African Reserve Bank's decision to cut and pause further interest rate reductions, has presented a bit of cautious optimism in the market," African Bank said. CEO Kennedy Bungane hailed the results as a testament to the bank's strategic pivot. 'These figures are more than a financial milestone; they reflect our commitment to empowering South Africans, from township entrepreneurs to families investing in sustainable solutions like solar power,' he said. Celebrating its 50th anniversary, African Bank is positioning itself as a cornerstone of inclusive finance, with a 6% increase in its customer base to 6.1 million and a 20% rise in net advances to R39.1 billion. The bank's Business and Commercial lending arm saw a striking 49% growth in advances, bolstered by strategic acquisitions, including Sasfin's capital equipment finance business, following last year's purchase of its commercial property finance division. These moves have strengthened African Bank's foothold in the small and medium enterprise (SMME) sector, a critical driver of South Africa's economy. Financially, the bank maintained a robust funding base of R36.3 billion, up 8%, with customer deposits accounting for 91% of the total. A strong capital adequacy ratio of 28% - well above regulatory requirements - underscores its stability. Non-interest income soared 39% to R909 million, fueled by growing adoption of digital offerings like the MyWORLD transactional account and credit card services. Improved risk management and a shift to secured lending reduced credit impairment charges by 10%, lowering the credit loss ratio to 5.3%. Chief Financial Officer Anbann Chetti said the results validate the group's strategy and operational focus, 'Our Excelerate strategy is reshaping African Bank into a scalable, future-ready institution. We're delivering value not just for shareholders but for employees and communities.' As part of its pre-initial public (IPO) offering roadmap, African Bank launched iKamva Lethu, an employee share ownership scheme allocating 10% of its shares to staff. "Work is also well underway on the next phase of our pre -IPO journey, which includes the finalisation of amanagement share scheme, and the creation o fretail BEE (Black Economic Empowerment) scheme, following the decision of theGovernment Employees Pension Fund to be a long term shareholder beyond the IPO of the bank. These efforts will culminate in our eventual listing targeted for post the release of our FY27 results, market conditions permitting," Bungane said. Looking ahead, African Bank plans to expand secured lending, launch a digital SMME lending platform, and invest in digital infrastructure, compliance, and cybersecurity. Bungane said, 'This journey is about building a bank that belongs to South Africans, one that serves with integrity and purpose. As we prepare for a future listing, we remain guided by our founders' bold vision and the needs of the communities we serve.' BUSINESS REPORT
The South African
15 hours ago
- Business
- The South African
B20 South Africa Sherpa update: Progress, dates and new partnerships
As the B20 South Africa journey progresses, B20 South Africa Sherpa Cas Coovadia has shared key updates on the efforts to shape actionable, inclusive and sustainable policy recommendations for the G20. QUIZ | Test your B20 knowledge with this 2-minute survey – AND WIN R2 000! Dear B20 South Africa friends and stakeholders, As we move forward in our B20 South Africa journey, I am pleased to share key updates on our collective efforts to shape actionable, inclusive and sustainable policy recommendations for the G20. All eight B20 Task Forces have now commenced their intensive collaboration, bringing together global expertise to develop concrete policy proposals ahead of our November summit. Their work is critical to ensuring that business voices translate into meaningful, measurable outcomes, ones that balance economic growth with societal development and environmental resilience. We are delighted to confirm that the B20 South Africa Summit will take place from 18-20 November 2025 in Johannesburg. This will be a pivotal moment to convene our global community, share insights, and drive forward recommendations that reflect both African priorities and global imperatives. I am pleased to welcome the Johannesburg Stock Exchange (JSE), MTN and Kwikot as new partners in our work to host Africa's first B20. Their commitment reinforces the collaborative spirit of all our sponsors needed to address the complex challenges ahead. As I have emphasised before, sustainable business is not just what we do, it is how we do it. Our values matter. The policy recommendations must be rooted in inclusion, resilience and long-term thinking. This means creating pathways for all regions, particularly those facing structural constraints, to fully participate in and benefit from global growth. Africa's role in this future is vital. A truly sustainable future must be shaped by the collective and grounded in shared prosperity. • G20 Sherpa Meeting – June 2025 • Virtual Press Roundtables with Task Forces – June 2025 • Fourth Financing for Development Conference (FfD4) – June 2025 Africa's potential is undeniable, but potential alone is not enough. Our goal is to shift the narrative from aspiration to measurable progress, progress that benefits people, economies and the planet. The world does not just need Africa's potential, it needs Africa's leadership. All of us in the B20 South African community look forward to your continued partnership as we build toward November. Together, we can forge policies and ways of doing business that drive inclusive growth and prove that sustainability and shared prosperity go hand in hand, in a cooperating world. Kind regards, Cas B20 South Africa Sherpa Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
17 hours ago
- Business
- IOL News
Anglo American's platinum spinoff lists in Johannesburg as Valterra
A dance group wearing mine workers' attire performs ahead of the listing of Anglo American's platinum unit under its new name, Valterra Platinum, at the Johannesburg Stock Exchange headquarters in Sandton, South Africa, May 28, 2025. Valterra Platinum, the world's biggest platinum miner by value, made its trading debut on the Johannesburg bourse as a standalone unit on Wednesday, completing a spin-off from parent Anglo American . Its shares opened weaker on the JSE before changing direction and were trading up 1.6% at 9.15am on Wednesday. Anglo's demerger of the Johannesburg-based platinum group metals producer, formerly known as Anglo American Platinum, comes as it shifts focus to copper and iron ore. London-listed Anglo is exiting the platinum mining business as part of a business revamp roughly a year on from surviving a $49 billion (R876bn) takeover attempt from bigger rival BHP Group . Anglo retained a shareholding of about 19% in the South African platinum miner. It is also selling its coking coal assets in Australia, nickel mines in Brazil and has said it is weighing whether to sell or list its loss-making De Beers diamond unit. REUTERS
Yahoo
17 hours ago
- Business
- Yahoo
Could The Market Be Wrong About Boxer Retail Limited (JSE:BOX) Given Its Attractive Financial Prospects?
With its stock down 5.3% over the past month, it is easy to disregard Boxer Retail (JSE:BOX). However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Boxer Retail's ROE. Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. The formula for return on equity is: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Boxer Retail is: 71% = R1.4b ÷ R1.9b (Based on the trailing twelve months to March 2025). The 'return' refers to a company's earnings over the last year. So, this means that for every ZAR1 of its shareholder's investments, the company generates a profit of ZAR0.71. See our latest analysis for Boxer Retail We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics. First thing first, we like that Boxer Retail has an impressive ROE. Additionally, the company's ROE is higher compared to the industry average of 23% which is quite remarkable. Probably as a result of this, Boxer Retail was able to see a decent net income growth of 15% over the last five years. As a next step, we compared Boxer Retail's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 12%. Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Boxer Retail is trading on a high P/E or a low P/E, relative to its industry. While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. We infer that the company has been reinvesting all of its profits to grow its business. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 40% of its profits over the next three years. Regardless, Boxer Retail's ROE is speculated to decline to 50% despite there being no anticipated change in its payout ratio. On the whole, we feel that Boxer Retail's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
