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SoftLine aims to make a big impac... US firms point fingers at Highveld and I... Local tyres are back in the rac... Syndicates target container... New-look Dorbyl in gear to drive into p... |
COMPANY DIGESTBARLOW RAND Strong contributions from its international operations boosted Barlow Rand's earnings by 27% to 329,2c a share in the year to end-September. The total dividend was raised by 25% to 105c. Both turnover and operating profits jumped by 15% to R17,8-billion and R969-million respectively with income from international operations (mainly Bibby's) rising by 59% to R164-million.
SANTAM Short-term insurer Santam lifted gross premium income above the R2-billion mark when it reached R2,1-billion in the year to end-September. The underwriting surplus increased 18% to R85-million (R72-million). Earnings a share rose by 15% to 242c, while a final dividend of 82c (70c) was declared.
TIMES MEDIA LIMITED Profits at publishing group Times Media Limited fell by 15% to R36-million in the six months to September but the group said the results were not comparable due to changes in its structure. TML also announced the appointment of financial director Lawrence Clark as chief operating officer, a decision that has to be ratified once the new board is in place.
ADCOCK INGRAM Pharmaceutical Group Adcock Ingram, fresh from its merger with Premier Pharmaceuticals, lifted attributable income by a solid 42% to R203-million in the year to end-September. Sales improved to R1,5-billion from R1,2-billion, while earnings a share were up 3% to 98,2c as a result of the increased number of shares in issue following the merger. The total dividend was raised by 12,5% to 40,5c. The results include five-month results of Prempharm.
DEUTSCHE BANK Germany's largest commercial bank, Deutsche Bank, acquired full control of stockbroking firm Ivor Jones, Roy by buying an additional 50% this week. Deutsche took an initial 50% stake at the start of this year. The group, which employs 90 people, will trade as Deutsche Morgan Grenfell.
TIGER OATS Diversified foods group Tiger Oats looks set to achieve further earnings growth in 1997 despite operating in tough markets. The company posted a 25% rise in headline earnings a share to 372,2c in the year to end-September, way above analysts' forecast range of 350c. It said headline earnings jumped 28% in its core foods businesses.
CG SMITH FOODS Food holdings group CG Smith Foods lifted earnings a share to 525,1c from 414,6c in the year to end-September and expected further real earnings growth in the year ahead provided 1996 consumer spending levels were maintained. CG Smith Foods is the holding company of Adcock Ingram, Tiger Oats, ICS and Illovo Sugar.
HUNT LEUCHARS & HEPBURN Hunt Leuchars and Hepburn said this week chief executive Neil Morris had decided to take early retirement at the end of March next year. The move followed the recruitment of a new chief executive for the troubled Rainbow Chicken unit.
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