Industry News

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PPC reports lower profitability, but still generates free cash flow

JSE-listed PPC on Wednesday reiterated the adverse effects of the devaluation of the Zimbabwean dollar (ZWL) and the rand on its financial performance for the six months ended September 30. The company had already highlighted this in a trading statement published earlier this month. Powered by WPeMatico

Basil Read subsidiary to lease properties to Bobcat Equipment

Basil Read Properties, in which embattled construction company Basil Read holds a 50% interest, has entered into an agreement to lease, and possibly sell, two properties to Bobcat Equipment Company South Africa. Basil Read Properties is a subsidiary of Thunderstruck Investments, a joint venture company in which Basil Read, which is in business rescue, owns […]

Barloworld pursuing R500m-plus acquisition targets as it seeks to rebuild growth momentum

JSE-listed industrial group Barloworld is eyeing several further acquisitions as it closes in on the purchase of a Caterpillar dealership in Mongolia, the due diligence on which has been completed. CEO Dominic Sewela tells Engineering News Online that the company, which has sold various noncore units in recent months as part of a restructuring exercise, is […]

EPP advocates for real estate investment policy in Poland

JSE-listed EPP has urged the Polish government to introduce real estate investment trust legislation for the country to make it more open for investment. COO Rafał Kwiatkowski believes the Polish property sector could be an excellent avenue for creating wealth and would be a good vehicle for people to invest their retirement savings. Powered by […]

Transport union slams PRASA over escalating railway infrastructure vandalism

The decision by the Passenger Rail Agency of South Africa (PRASA) to terminate contracts of 20 private security companies at the end of October has left railway infrastructure vulnerable to vandalism, says the United National Transport Union (Untu). In a statement on Friday by Untu spokesperson Sonja Carstens, the union lays all manner of accusations […]

L2D commits to cutting its carbon emissions

With a vision to be the leading South African precinct focused retail-centred real estate investment trust, Liberty Two Degrees (L2D) has made commitments to changing some of its business operations that will support accelerated and positive changes by reducing carbon emissions, water use and water generation at its malls across the country. A number of […]