BUSINESS BRIEFS

DE BEERS ROUGH DIAMOND SALES RECORDS $540 MILLION

ANGLO American rough diamond sales value for De Beers’ third sales cycle of 2023 has raked in $540 million.

The provisional rough diamond sales figure quoted for Cycle 3 represents the expected sales value for the period 27th March and 11th April and it is likely to grow further based on final completed sales. Previously, the Cycle 2 of 2023 raked in $497 million while Cycle 3 of 2022 amounted to $566 million.

TURNSTAR EXPECTS P142 MILLION PROFITS

TURNSTAR Holdings is expecting profit before taxation to be higher by approximately 24% (P27.7 million) from P114.4 million for the year ended 31st January, 2022 to approximately P 142 million for the year ended 31 January 2023.

Due to the increase in the interest rates and the appreciation of the US Dollar over the Botswana Pula, the finance costs of the Group increased to P30.9 million, for the year ended 31st January, 2023, compared to P21.3 million for the corresponding year. The fair value appreciation of the Botswana, Tanzania and Dubai properties for the year ended 31st January, 2023 is expected to be approximately 31.2 million.

CAR IMPORTS ON THE RISE

A TOTAL of 8,208 motor vehicles were registered for the first time during the fourth quarter of 2022, an increase of 1.4 percent from 8,095 recorded in the previous quarter.

Considering the total motor vehicles on first registration, 74.2 percent were used vehicles, 25.7 percent brand new and 0.1 percent rebuilt motor vehicles. Most of the motor vehicles on first registration were from Japan, accounting for 63.3 percent of the total. Motor vehicles from South Africa constituted 25.7 percent of the total and 80.7 percent of those were brand new.