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Five things making headlines in South Africa today

Results in focus: MTN, Quilter, Glencore and Mpact interims, Sacci business confidence rises.
MTN declares a dividend of 175 cents per share. Picture: Waldo Swiegers, Bloomberg

Here’s what caught our attention on Wednesday:

1. MTN results

Telecommunications company MTN’s subscribers for the six months ended June 30, 2018 is being recorded at 223.4 million, with 71.2 million active data users. Ebitda increased 17.0% and Ebitda margin increased 35.5%. MTN’s basic headline earnings per share fell to 215 cents from 231 cents and an interim dividend of 175 cents per share has been declared. 

2. Quilter results

Old Mutual’s newly-listed Quilter is reporting a record adjusted profit before tax of GBP 110 million and a special interim dividend of 12.0 pence per share for the six months ended June 30, 2018. Diluted earnings per share is at 18.7 pence and adjusted diluted earnings per share is at 5.5 pence, up 25% from the first half of 2017.  

3. Glencore results

Swiss-based mining company, Glencore had quite a year with the US Department of Justice probing money laundering and corruption matters at the company, however, it has managed to achieve a 13% increase in net income and a 23% increase in adjusted Ebitda to $8.3 billion. Basic earnings per share is at $0.19, up 12% from 2017.

4. Sacci Business Confidence

The South African Chamber of Commerce Industry (Sacci) business confidence index rose to 94.7 in July from 93.7 in June. Sacci says the index was boosted by merchandise export volumes, lower inflation and real retail sales. 

Read: Business confidence index rises in July

5. Mpact results

Paper and plastic manufacturing company Mpact is reporting a revenue increase of 2.9% to R5.0 billion, from R4.8 billion in 2017, for the six months ended June 30, 2018. The company’s Ebitda is at R443 million, up from R433 million in 2017. Underlying earnings per share decreased to 31.5 cents and gearing improved to 34.4%. An interim gross dividend of 15 cents per share has been declared.

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