Hits&Misses

UK, SA agree on post-Brexit deal, but business confidence falls

BRITAIN agreed to a deal with six Southern African countries including SA that will ensure continuity of trade conditions after Brexit, the British high commission in SA said. Once signed formally, the agreement will mirror the conditions the countries enjoy now with the EU.

SA’S largest listed realestate company, Growthpoint Properties, grew its distribution per share 4.6% in the year to end-June, but it warned that due to pressure on rentals, growth in the next year might be low. Growthpoint, which owns half of the V&A Waterfront, raised its dividend 4.6% to 218.1c per share, marginally exceeding its guidance of 4.5% for the period.

THE local arm of drinks giant AB InBev is confident it will be able to hit a regulator-imposed threshold to begin producing famed Irish stout Guinness locally. If SAB manages this, SA could join the 49 other countries where the wellknown beer is brewed. BUSINESS confidence slumped to the lowest level since disinvestment from SA over its apartheid policies started gaining momentum. A sentiment index compiled by the South African Chamber of Commerce & Industry declined to 89.1 last month from 92 in July. That’s the lowest level since April 1985, when the UN Security Council called on members to introduce more farreaching economic measures against SA.

PRODUCTION in the mining sector, which has been hard hit by high input costs, waning global demand and subdued commodity prices, contracted by 3.8% in July compared to the month before, data from Stats SA showed.

RAND Merchant Investment Holdings, which owns Outsurance and has stakes in Discovery and MMI, has become the latest victim of a spike in insurance claims, which ate into its profit, causing a 7% fall in headline earnings.