Hits&Misses

Mining’s surge gives hope for growth, but IMF remains sceptical

DIS-CHEM

Pharmacies said interim headline earnings per share were set to be 34.8%-39.5% higher than the matching period in 2016, based on the weighted average number of shares in issue being 860 million against 794 million in the prior period.

MINING

surprised on the upside in August with strong growth, indicating that GDP growth might be stronger in the third quarter. Mining production increased 6.9% year on year after rising 0.9% year on year in July.

EQUITES

Property Fund’s growth in dividends for the six months to August made it one of the topperforming listed real estate groups. The company reported a 12.02% increase in halfyear dividends to August. ACCORDING

to the Franchise Association of South Africa, the sector’s share of GDP in 2017 stands at R587-billion, or 13.3%, an increase from the 11.6% of GDP recorded in 2016.

THE

IMF slashed its 2017 growth forecast for South Africa, bringing it in line with Reserve Bank and World Bank estimates. After revising growth up to 1% from a previous 0.8% in its July world economic outlook, it has now dropped its forecast to 0.7%.

FAMOUS

Brands crashed as much as 17% on the JSE on Tuesday before recovering to close 10.74% lower after a trading update revealed the extent to which last year’s Gourmet Burger Kitchen acquisition had soured. Interim headline earnings are expected to be 54%-63% lower.

PACKAGING

and paper company Mondi said full- year results would be slightly lower than analysts’ expectations due to cost pressures and adverse currency moves.

SALES

growth of 6% from Taste Holdings’s fast-food outlets failed to offset a 15% drop in sales at its jewellery stores, pulling interim revenue down 9% to R483-million.