The JSE All Share Index ended slightly higher on Monday, despite the recovery in industrials being offset by a heavy decline in resource-based stocks. By the end of the session, the industrials had gained 0.90%, boosted by a 2.49% increase in British American Tobacco and a 1.38% jump in SABMiller. General Retailers once again performed well with the index up 1.33%, as Massmart added 2.39%. The resources featured among the main decliners, with the index down 2.59%, with Anglo American and BHP Billiton shedding 4.88% and 4.22% respectively. Meanwhile, the gold index lost 2.08%, as Sibanye fell 4.23%. Lastly, the JSE All Share added 0.11% by the close of trade, while the Top 40 gained 0.17%.
It was a busy day on the SENS feed yesterday as company after company reported.
The JSE delivered a solid set of results for the year ended 31 December, with the group’s earnings after tax increasing by 42% to R899mn. This increase was primarily driven by double-digit revenue growth across all operating divisions, thanks to significantly higher market activity. The Primary Market saw a 20% increase in revenue to R161mn, while the Equity Market saw a 26% increase in revenue to R501mn. As a result, the group saw its earnings per share increase by 42% to 1,051 cents, while headline earnings per share rose by 40% to 1,206.3 cents. Lastly, the board has seen fit to declare both an ordinary dividend and special dividend at 520 cents and 105 cents respectively.
Continue reading JSE confirms bumper year as market activity jumps
In a trading statement for the year ended 31 December 2015, the JSE notified shareholders that the group expects earnings per share to increase by between 35% and 45%. As a result, earnings per share are expected to come in between 1,002.24 cents and 1,076.48 cents, up from 724.4 cents in the previous corresponding period. Headline earnings per share are expected to increase by a similar margin, to between 992.25 cents and 1,065.75 cents, up from 735 cents previously. This increase is mainly attributable to double-digit revenue growth across all operating divisions driven by significantly higher market activity.
Continue reading JSE Limited earnings boosted by market volatility
In a bid to help South Africans adequately prepare for their financial future the Johannesburg Stock Exchange is pleased to announce the launch of its Tax Free Savings Account (TFSA) initiative.