Here’s what caught our attention on Tuesday:
1. EOH results
Technology group EOH is reporting a headline loss per share of 1 681 cents and a loss per share of 2 995 cents for the year ended July 31, 2019. The company’s revenue decreased by 2.6% to R11.79 billion and its net asset value fell by 68% to R1.95 billion for the period. EOH CEO Stephen van Coller says the company faced tough conditions during the period but remains focused on cleaning up the business from both a governance and financial perspective. No dividend is being declared for both the 2018 and 2019 periods.
2. Discovery Health’s top plans falling out of favour
At least 22% of the base of Discovery Health’s three top tier plans have disappeared over the past five years. According to Moneyweb, the three top plans, including the Executive, Comprehensive Series and Priority plans have seen declines. Despite the trend Discovery’s overall client base continues to grow.
3. How do SA’s provinces rank?
Gauteng and the Western Cape are the only provinces in South Africa with an above-average rating in terms of being able to cater for the social and environmental needs of the people who live there. According to the Social Progress Index, Gauteng is ranked at number one after scoring high for access to water and sanitation, inclusiveness and basic education. This was followed by the Western Cape. Other provinces including Limpopo and the Eastern Cape ranked poorly for their access to basic education, while Mpumalanga ranked worst for the state of environmental quality.
4. Sasol delays release of results again
Sasol issued an announcement on Tuesday, notifying shareholders of a further delay to the release of its financial results for the year ended June 30, 2019. The company says this is to allow for the completion of the independent review commissioned by the company’s board. Sasol says the board will make an announcement on the changes in due course and it expects to release its annual results on October 28, 2019.
5. SAA in talks with potential partners
South Africa’s debt-laden airline, South African Airways is in talks with a number of potential partners. President Cyril Ramaphosa was speaking at an Africa conference in London on Monday and told the Financial Times that SAA is open to the participation of the private sector, especially since the airline has heavily relied on bailouts to stay afloat in the past.