Break out the polony — just in time to savour bad recession news

THE government declared the end of the listeriosis outbreak — the world’s deadliest on record — and withdrew advice against consuming ready-to-eat processed-meat products. The Enterprise factory in Limpopo, identified as the source of the outbreak, could reopen in October, said health minister Aaron Motsoaledi.

TRADING, distribution and services firm Bidvest Group reported a 12.5% rise in annual earnings, supported by costsaving measures. Normalised headline earnings per share rose to 1,254.9c from 1,115.4c a year earlier.

WILSON Bayly Holmes posted a 14% jump in full-year profit as a favourable market in Australia and growth in its roads and works division offset a fall in revenues at home. The construction and engineering company, which reported profits of 1,414.6c per share, said revenue growth was driven by Australia and the rest of Africa.

SA’s economy entered into a recession for the first time since 2009 in the second quarter as farming output plunged. Stats SA said GDP shrank an annualised 0.7% from the previous three months. That compares with a decline of 2.6% in the first quarter. The median estimate in a Bloomberg survey was for 0.6% expansion. The economy grew 0.4% from a year earlier.

AN index tracking South African manufacturing activity posted its worst reading in 13 months in August as new sales orders dropped. The purchasing managers’ index compiled by the Stellenbosch-based Bureau for Economic Research and Absa Bank slumped to 43.4 in August from 51.5 in July.

CLOTHING and homeware retailer

The Foschini Group said its London business would be likely to incur some bad debt writeoffs as a result of the collapse of House of Fraser.