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Stals shock - rates set to rise in wak... Denel gets lift from Eurocopter... US executives take home the fattest piec... Receiver has another tax-free target in ... Grip of five top SA conglomerates loose... Optimists take heart from dip in inflati... Black empowerment and unbundling rule me... Outrage at Telkom bid to take over the ... The battle for Midrand's big, big gaming... Cape leisure applies the black tin... Strong medicine cures Adcock... For 10 years the terror of businessme... |
COMPANY DIGESTCOMPASS GROUP UK food-service giant Compass Group plc has bought an equity stake in black-controlled contractual catering company, Kagiso Khulani Supervision Food Services (KKS) for R133.4-million. Compass, which bought the shares from Tongaat-Hulett and FirstCorp Capital Investors, will introduce the latest technology, service and products to KKS's operation. Compass Group employs over 125 000 staff in 40 countries and boasts annual turnover of R24-billion. KKS employs 5 200 people and has annual sales of R567-million. WOOLWORTHS Woolworths has acquired a 14.9% stake in the upmarket Australian men's and women's fashion, related accessories and homewares chain Country Road in a deal worth R54-million. The deal, Woolworths' first offshore investment, will allow it to develop a local retail chain that will distribute and market branded Country Road products throughout South Africa. Country Road operates 50 stores in Australia and New Zealand and a number of joint ventures in the US and the Far East.
SA BREWERIES SA Breweries plans to build a $45-million brewery in Kenya which will have a capacity of 800 000 hectolitres a year and is expected to create 700 jobs. To be built at Thika on the outskirts of Nairobi, it will be owned jointly by Donyo Sabuk Holdings, a consortium of Kenyan entrepreneurs; Dutch development agency DMO; and SAB. It should be fully operational at the end of 1998 and will seek a Nairobi Stock Exchange listing. TOCO HOLDINGS Industrial group Toco Holdings on Friday warned that total earnings attributable for the year to March will be less favourable than expected at the time its interim results were published. The latest results are being finalised and will be published around May 30. BOLAND BANK Boland Bank posted a 47% rise in attributable profits to R112.9-million for the year to March, its last independent results before merging with NBS. Headline earnings on a fully diluted basis rose 30% to 275c a share. ILLOVO Record production boosted sugar producer Illovo's attributable income 28% in the six months to March to R68.7-million. A sweetener was the 26% rise in dividend to 14.5c a share.
WALTONS A management restructure and rationalisation programme is set to take place at Waltons following a 28% decline in its headline earnings to 50c a share for the 12c months to February.
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