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New-vehicle sales jump by 31.8%, exports up 38.6% 

By: Irma Venter     1st April 2021 The expected turnaround in South Africa’s new-vehicle market has started, says Naamsa | The Automotive Business Council. Naamsa on Thursday released the new-vehicle sales statistics for March, which is the first month of the year to produce comparable year-on-year numbers, considering the fact... 

Attacq maintains interim profit

By: Marleny Arnoldi     23rd March 2021 JSE-listed real estate investment trust (Reit) Attacq has posted a 57.5% lower distributable income per share for the six months ended December 31 at R148-million, mainly owing to rental discounts of R53-million incurred during the period. The rental discounts were mainly granted to support... 

Goldplat records marginal increase in interim operating profit

By: Donna Slater     5th March 2021 Aim-listed gold producer Goldplat marginally improved its operating profit for the six months ended December 31, 2020, to £2.6-million, up from £2.57-million for the six months ended December 31, 2019. The miner’s South African operation achieved an operating profit of £2.1-million, while its... 

Organisation bemoans Treasury’s decision to cancel S12J investments

By: Tasneem Bulbulia     25th February 2021 The 12J Association of South Africa has expressed disappointment at the decision by the National Treasury not to extend Section 12 J of the Income Tax Act beyond June 30. Association chairperson Dino Zuccollo points out that this was announced in the National Treasury's 2021 Budget Review, on... 

L2D declares 32.33c distribution despite harsh Covid-19 impacts

By: Marleny Arnoldi     22nd February 2021 JSE-listed real estate investment trust (Reit) Liberty Two Degrees (L2D) has declared a distribution of 32.33c apiece for the year ended December 31, 2020. This compares with the distribution of 60.43c apiece declared for the 2019 financial year.  

Worst listed property year on record impacts Redefine’s distributable income 

By: Donna Slater     22nd February 2021 JSE-listed real estate investment trust Redefine has reported a decrease in distributable income of 51.50c a share, or 49%, for the financial year ended August 31, 2020, which the company described as the “worst year in history for listed property”. Total revenue, which grew by 4.1% in the year... 

Massmart says Covid-19 restrictions cost it R6bn in sales during 2020

By: Tasneem Bulbulia     19th February 2021 JSE-listed Massmart has recorded a 7.7% decrease in sales to R86.5-billion for 2020. Sales in the fourth quarter had contracted by 4.1% year-on-year, as a result of softer sales over the Black Friday period, in addition to lower foot traffic, especially in regional malls. 

New year, new lease?

By: Creamer Media Reporter      8th February 2021 Know your rights before renewing your corporate lease agreement As the new year kicks off, many companies will be renewing their lease agreements for the next 12 months. For most companies, COVID-19 has had a radical impact on their space requirements.  Jamie Louw, the Financial Director of FM... 

New-vehicle sales drop by 14%; three years to recover from Covid-19, says Naamsa 

By: Irma Venter     1st February 2021 New-vehicle sales fell by 13.9% in January, to 34 784 units, compared with the same month last year. An estimated 28 716 units, or 82.6%, were dealer sales, with 11.4% going to the vehicle rental industry, 3.5% to government, and 2.5% of total sales to industry corporate fleets. 

Barloworld restructures its Motor Retail business in R947m deal 

By: Irma Venter     22nd January 2021 Barloworld has entered into an agreement with NMI Durban South Motors (NMI-DSM) to dispose of its Motor Retail business as a going concern for R947-million. NMI-DSM is a joint venture of the Barloworld group, in which Barloworld holds a 50% interest alongside the Akoo family.  

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