UK inflation data and New Zealand rate hike remind investors that global economy still faces many challenges
Though highly skilled, SA farmers need access to support services to meet consumer demand for close-at-hand ethically farmed, organic produce
More people will qualify for the social relief of distress grant after the means test threshold was increased
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
The aim is to have 65% of the business’s electricity requirements at a manufacturing level across SA sourced from sustainable energy by 2030
With price relief awaiting motorists in September, Outa is worried the fuel levy will be increased to offset the scrapping of e-tolls
UN special rapporteur Tomoya Obokata concludes that forced labor among ethnic minorities has been occurring in Xinjiang
England Test captain says he hopes his team has retained their “venom” before the three-match series against SA
After backpacking through SA and noticing the trend to poshtel (a combination of posh and hostel) happening abroad, Bheki Dube saw a gap in the market
Severe losses relating to Group Five’s large gas and oil-fired power project in Ghana caused headline earnings per share for the six months to December 2017 to plummet 151%.
The JSE-listed construction and engineering group also says delayed contracts and contracts not materialising due to tough market conditions and the cost of retrenchments had also played a part.
Analysts were not available to comment on the losses, which follow years of dismal results that had diminished market interest in the country’s ailing construction sector.
The group’s core operating loss jumped from an interim loss of R333.6m in 2016 to a loss of R727.3m in the latest half-year period. The latter was affected by losses of R649m realised on the $420m Kpone contract, which the company signed up for in late 2014.
Group Five CEO Themba Mosai told Business Day they were “very difficult results”. He said the losses were higher than expected, owing to Kpone.
Design delays and the late arrival of procured items ...
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