Truworths expects Heps to be 30% lower
SOUTH AFRICA
◆ Truworths International: The fashion retailer, in its business update and trading statement, said it expected a reduction of at least 30 percent (174 cents) in headline earnings per share (Heps) for the period compared with Heps of 580c in the same period last year. The company has been engaged in executing operational steps and strategic responses to mitigate the impact of Covid-19.
◆ Murray & Roberts Holdings: The engineering and mining contractor, in its trading statement, reported that its global portfolio of projects experienced a significant impact as a result of the restrictions implemented to limit the spread of Covid-19. Most of the group’s projects were again operational and ramping up to pre-restriction production levels. The company expected its financial year 2020 Heps and earnings per share (Eps) to decline more than 20 percent compared with diluted Heps of 78c and diluted Eps of 83c in the same period of the prior year.
◆ Tiger Brands: The packaged goods company, in its first-half 2020 results, disclosed that its revenue rose 2.4 percent from the same period of the preceding year to R15.71 billion. Its diluted Eps was 219.90c compared with 872c in the corresponding period of the previous year.
◆ Nampak: The packaging company, in its first-half 2020 trading update, stated that the company expected its Heps to decrease between 3.90c and 10.40c, compared with 130c in the same period of the previous year. It expected its loss per share to be between 406.70c and 413.60c, compared with Eps of 137.40c in the last year.
◆ Northam Platinum: Northam Platinum raised R411 million in fresh cash and at the same time eased the repayment timeline on its domestic medium-term notes as the coronavirus pandemic disrupts mining operations.
◆ MTN Nigeria: MTN’S Nigerian arm will issue as much as 50bn naira (R2.2bn) in bonds as the telecommunications group seeks to diversify its funding sources.
◆ Growthpoint: South Africa’s largest property company, Growthpoint, collected less than half of its rent from retail tenants last month, when it provided almost R100m in rental relief.
FOREIGN
◆ CVC Capital Partners: CVC is pressing ahead with plans to reshape global rugby, completing a deal for a stake in the Pro14 club competition and seeking to get a £300m (R6.42bn) Six Nations deal back on track within weeks even as fixtures have been suspended during the pandemic.
◆ VW: Germany’s highest civil court has ordered Volkswagen to pay more than €28 000 (R533 913) to an owner of a diesel minivan, in a landmark judgment that will force the carmaker to compensate tens of thousands of customers. German government agrees
◆ Lufthansa: Lufthansa will receive a rescue package worth a total of €9bn from the German government, which will own at least a fifth of the national carrier almost a quarter of a century after it was fully privatised.