Brexit: SA firms with UK ties brace for the worst
SA companies with UK links are in for some extra uncertainty as Britain stumbles towards its exit from the EU
SA companies are probably more familiar with economic and political uncertainty than most, but those that still have ties to the UK are in for an extra dose of the unknown. Brexit negotiations are coming to a head and the reality, says Clive Black, head of research at Guernsey-based Shore Capital, is this: "Nobody can tell us what will be happening on April Fools’ Day in the UK this year — the uncertainty is growing by the day." Some JSE-listed companies, including Netcare and Spur, quit the UK before Brexit negotiations reached a fever pitch. Those that have remained have mostly kept mum about their Brexit hopes and fears; their UK peers have been far more vociferous. In late January, major retailers including Waitrose, Marks & Spencer and McDonald’s UK warned legislators that a no-deal Brexit — where border checks are reintroduced and the UK’s future relationship with the EU is uncertain — could put Britain’s food security at risk and push up prices, an article in The Independent ...
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