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ABN Business Briefs
Thu, 17 May 2012
Tsogo Sun's full year adjusted headline earnings per share rose 12% to 121.5 cents, as both casino win and hotel occupancy showed accelerated year on year growth. This allowed Africa's biggest hotel and casino operator to achieve margin expansion for the first time since 2008. Total income of R9 billion ended 39% above the prior year, assisted by the inclusion of R2.2 billion incremental income from Gold Reef, and satisfactory organic growth offset by the non-recurrence of 2010 FIFA World Cup. Tsogo sun has declared a final gross cash dividend of 40 cents. ...read more

S.Africa's Tsogo Sun FY profit up 12 pct

Thu, 17 May 2012
Africa's biggest hotels and casino operator Tsogo Sun Holdings reported a 12 percent in full year profit as low interest rates and higher wages boost demand for leisure spending. ...read more

Investec full-year earnings fall
Thu, 17 May 2012
South African investment bank and asset manager Investec posted a 25.9 percent decline in full-year earnings due to bad loans hitting its Australian unit and a weak performance by its investment banking arm. ...read more

Gold Fields Q1 earnings fall, but beat forecasts
Thu, 17 May 2012
Gold Fields, the world's fourth-largest gold producer, reported an 18 percent fall in quarterly earnings on Thursday, albeit above expectations, as output and the bullion price in South African rand both fell. ...read more

Barclays Kenya Q1 profit beats market expectations
Thu, 17 May 2012
Rising total interest income buoyed Barclays Bank of Kenya's profit defying high interest rates and inflation to beat market expectations. ...read more

South Africa stocks recover as Richemont soars
Wed, 16 May 2012
South African stocks rose for the first day in three sessions on Wednesday, gaining 1 percent as luxury goods maker Richemont surged after beating expectations with its full-year profit. ...read more

South Africa developing cheaper way of making titanium
Wed, 16 May 2012
South African scientists are developing a new way of making powdered titanium potentially halving the cost of producing the metal used in a range of high-tech manufacturing from military aircraft to artificial limbs. ...read more

Huge finds make East Africa the next big gas source
Wed, 16 May 2012
Western companies announced finds of huge additional quantities of gas off the coast of Mozambique and Tanzania, cementing the future of East Africa as a major new supplier exporting liquefied natural gas (LNG) to energy-hungry Asia. ...read more

South African banks plan cuts rating risk - Moody's
Wed, 16 May 2012
The creation of a liquidity pool which South African banks can tap to meet the global industry's new Basel III regulatory requirements relieves the pressure for a credit rating downgrade when the new laws come into effect, Moody's said on Wednesday. ...read more

Uganda's planned investment more than triples Q1 2012
Wed, 16 May 2012
Uganda's planned investment more than tripled in the first quarter of this year from the preceding three months, buoyed by increasing interest in the country's energy sector, a state agency said on Wednesday. ...read more

Tanzania gold production up 13 pct in 2011
Wed, 16 May 2012
Tanzania's gold production rose to 40.4 tonnes in 2011 from 35.6 tonnes a year ago after mining companies invested in higher output due to cash in on the rising price of the precious metal, its central bank said on Tuesday. ...read more