(Nigel Jared/Getty Images)
In another generally good day for the post-election JSE, but which was slow in terms of news, Stor-Age reported a jump in revenue but pressure on its bottom line, while Sephaku surged after it reported resilience in a tough market. In international news, the US surgeon general has called for social media platforms to carry warning labels on their effects on young people’s lives similar to those adorning cigarette packets.
Cement group Sephaku Holdings flagged a jump in headline earnings per share to between 24.5c and 26c in its year to end-March from just under 10c previously. It said in its brief trading update that Métier Mixed Concrete and Dangote Cement “both demonstrated resilience and agility in maintaining market share”, and Métier delivered strong growth in revenue and profit. Deteriorating economic conditions and persistent challenges in the cement industry impacted Sephaku Cement’s financial performance, but they still managed to return to levels achieved during the year before last, it said. Sephaku, valued at about R350 million on the JSE, had jumped over a quarter in afternoon trade and has now risen by half in the past year.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
