THE WEEK IN FIVE

Weekend Argus (Sunday Edition) - - SPORT -

ESKOM

POWER util­ity Eskom re­ports a net loss of R2.3 bil­lion for the fi­nan­cial year end to March. Eskom says ir­reg­u­lar ex­pen­di­ture also in­creased to R19bn dur­ing the pe­riod that was ac­com­pa­nied by flat rev­enue, fall­ing sales and de­te­ri­o­rat­ing gear­ing. The util­ity says debt owed to it by mu­nic­i­pal­i­ties has also bal­looned 44 per­cent to R4.2bn.

AMPLATS

An­glo Amer­i­can Plat­inum (Amplats) says it will pay a R1 bil­lion div­i­dend for the six months to end June, the first pay­out to share­hold­ers since 2011. The miner says its prof­its after tax swung to R2.28bn dur­ing the pe­riod com­pared with a R1.3bn loss dur­ing the cor­re­spond­ing pe­riod last year. Amplats says its net cash also rose to R447 mil­lion from a net debt of R5.9bn last year.

KUMBA

SOUTH Africa’s largest iron ore pro­ducer Kumba Iron Ore blames Transnet for a loss of R2 bil­lion in rev­enue dur­ing the half-year to the end of June. Kumba says six de­rail­ments on the iron ore chan­nel that links its Sishen and Kolomela mines in the North­ern Cape with Sal­danha had crip­pled its ex­ports. The group says its rev­enue also fell from R21bn last year be­cause of cur­rency fluc­tu­a­tions

AB-INBEV

ANHEUSER-BUSCH InBev an­nounces a ma­jor shake-up of its ex­ec­u­tive struc­ture, cre­at­ing two new po­si­tions that will re­port di­rectly to its chief ex­ec­u­tive and re­duc­ing its geo­graphic lead­er­ship from nine man­age­ment zones to six. The brewer, which bought SABMiller for $79 bil­lion in De­cem­ber, says the changes, which will come into ef­fect next year, will drive its com­mer­cial and op­er­a­tional agenda. It says it will spend the next six months en­sur­ing a smooth tran­si­tion to the new struc­ture.

COM­PE­TI­TION

THE Com­pe­ti­tion Com­mis­sion slams the brakes on Bri­tish Amer­i­can To­bacco-SA (BAT) plans to ac­quire e-cig­a­rette com­pany Twisp. The com­mis­sion says the pro­posed trans­ac­tion will have an im­pact on the na­tional mar­ket for the sup­ply of cig­a­rettes and e-cig­a­rettes. It says the ac­qui­si­tion will also in­crease the price of e-cig­a­rettes.

Com­piled by Sech­aba ka’Nkosi

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