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Five things making headlines in South Africa today

Standard Bank, Sanlam, MTN and Aspen release results; day zero pushed back to August.

Here’s what caught our attention on Thursday:

1. Standard Bank annual results

Standard Bank reported a strong performance in its financial report for the year ended December 31 2017. The group’s headline earnings per share and headline earnings increased 14%, to 1 640 cents and R26 270 million, respectively. The dividend is also up 17% to 910 cents per share.

2. Sanlam annual results

The company reported positive results despite challenges faced in the 2017 financial year. The group reported an 18% increase in normalised earnings of R 9 835 million, a 1% drop in headline earnings to R 9757 million, and declared a dividend of 290 cents per share, up 8% from 2016. Sanlam also highlighted that its earnings from financial services per share went up 7%.

3. Aspen interims

Aspen Pharmacare reported positive growth in its interim results for the year ended December 31 2017. Revenue picked up by 11% to R21.9 billion, normalised headline earnings per share is 26% higher at 872 cents. 

4. MTN annual results

MTN Group’s CEO said the group had a “solid performance” for the financial year, despite facing challenges. Group revenue increased by 6.8%, group services revenue increased by 7.2%. It reported a positive headline earning per share of 182 cents and declared a dividend of 450 cents per share.

5. Day Zero moves

Some positive news was reported for Cape Town: day zero has been pushed back to August from July. Reuters reported that the City of Cape Town has indicated that if no rain falls then this will be the case, otherwise efforts to continue saving water have to stay in place and day zero can be avoided completely.

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