Here’s what caught our attention on Monday:
1. Listeriosis outbreak forces meat off shelves
The Department of Health has asked food producers RCL Foods and Tiger Brands to recall their polony products from food retailers’ shelves, after finding that the processed food product has traces of the listeriosis virus, which led to the death of 180 people, Reuters reported.
2. VAT will rise
National Treasury said on Friday that the decision to increase VAT by 1% to 15% on April 1, is a necessary requirement for the country to stablise its fiscal position. The increase seeks to advantage South Africa’s poorer population.
3. MTN starts to recover from Nigeria fine
On Friday, mobile network MTN released a trading update, notifying shareholders that its full-year financial statements will be published on March 8. The group said full-year headline earnings per share will be between 170 cents and 190 cents per share, and basic earnings per share between 235 cents per share and 255 cents per share.
4. Miner Merafe Resources releases solid results
Merafe Resources has released its financials for the year ended December 31 2017. Merafe, which is listed on the JSE under the general mining sector, reported that for the financial year 2017 it picked up on performance, given the increase in both chrome and ferrochrome prices. There was a 3% increase in revenue to R5 889 million, a 72% increase in headline earnings per share to 36.4 cents and a 15% increase in total dividends to R301 million.
5. Texton Property results
Texton Property Fund released its financial results for the six months ended December 31 2017, which noted a sight increase in revenue to R303.2 million from R 300.3 million in 2016. Dividends remained at 47.95 cents and net property income is up 2% to R212.4 million.