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PPC Reports Loss on Higher Finance Costs, Low Domestic Prices

JOHANNESBURG (Capital Markets in Africa) – PPC Limited reported a full-year loss of 295 million rand ($22.9 million) as the South African cement maker incurred higher finance costs following the downgrade of the company’s debt and battled persistent low prices in its home market. Earnings per share excluding one-time items slumped 93 percent to 7 cents a share, the Johannesburg-based company said in a statement on Wednesday. Sales rose 5 percent to 9.6 billion rand, while capacity increased…

MTN agrees to Pay US$25mn toward record US$3.9bn Nigeria Fine

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — MTN Group Limited, Africa’s largest mobile-phone company, agreed to pay 50 billion nairas (US$251 million) toward a record US$3.9 billion fine in Nigeria for missing a deadline to disconnect unregistered subscribers. The payment to the Nigerian government was made “on the basis that this will be applied toward a settlement, where one is eventually, hopefully, arrived at,” the Johannesburg-based company said in a statement on Wednesday. MTN also agreed to…

JSE delivered a strong performance in 2014

Posted on by The Editorial Team

The Johanneburg Stock Exchange (JSE) delivered a strong performance in 2014, making it more difficult for competitors to take on the local stock exchange, rated the 19th largest in the world. The JSE, as it stands, continues to be a profitable organisation, and in 2014 earnings per share rose 25% to 742.4c. Group earnings before interest and tax increased 22% to R704m. An ordinary dividend of 400c per share and a special dividend of 80c…