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Five things making headlines in South Africa today

July PPI, money supply and private sector credit supply, Santam and Net 1 results, M&R awarded new projects.
Santam reports 72% increase in profits. Picture: Moneyweb

Here’s what caught our attention on Thursday:

1. July PPI

The producer price index increased 6.1% in July year-on-year from 5.9% in June. On a monthly basis PPi rose by 0.6% in July from 0.9% in June, Stats SA said on Thursday. 

2. M3 money supply and private sector credit supply for July

Private sector credit supply slowed to 5.41% in July from 5.68% in June, while M3 money supply quickened to 6% from 5.77% in June, data from the South African Reserve Bank showed on Thursday. 

3. Santam results 

Financial Services company Santam is reporting a 72% increase in headline earnings per share to 1 018 cents per share for the six months ended June 30, 2018. It attributes the increase to improvements in the underwriting result. The company’s earnings per share also quickened by 49% for the period. An interim dividend of 363 cents per share has been declared, up 8% from the prior year.

4. Net 1 UEPS Technologies Q4 results

Net 1 UEPS Technologies, the infamous company whose Sassa contracts are being taken over by the Post Office is reporting a 6% decrease in revenue in South African terms but remained flat in US terms to $612 million. The company’s basic and diluted headline earnings per share increased marginally to 22 US cents.

5. Murray & Roberts awarded new mining projects

Construction company Murray & Roberts has been awarded R3.6 billion in new underground mining projects. The projects include The Pumpkin Hollow underground project for Nevada Copper Corporation in Nevada and a shaft sinking project in a copper mine in South Africa.

The construction firm also released its financial results for the 12 months ended June 30, 2018, on Wednesday,  in which it reported a 2% increase in revenue and 56% increase in diluted headline earnings per share to 112 cents. 

In addition:

The State Capture inquiry is onto its seventh day, and the Nugent Commission of Inquiry into governance and administration at Sars is still underway, while the ANC plans to table a motion of no confidence against the DA’s Tshwane premier, Solly Msimanga. 

MTN shares fall after Nigeria orders refund of R117bn dividend 

Mr Price issues a trading statement

Balwin Properties interim results

Grindrod Bank results for the six months ended June 30, 2018.

Onelogix Group results for the year ended May 31, 2018

Advanced Health results for the year ended June 30, 2018



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