- AdvTech, a private education company, expects headline earnings per share to be slightly higher for the year ended in December. AdvTech CEO, Roy Douglas said: āOne of the measures of a businessā success is how robustly it responds to the unexpected. In the face of fluctuating challenges in 2020, AdvTech came through with flying colours.ā
- Absa saw normalised headline earnings per share decreased by over fifty percent for the year ended in December. The bank did not declare a dividend. āWhile our aspirations are unwavering and our strategic choices remain, the world in which we seek to achieve them has changed,ā said a company statement.
- Stadio Holdings, which focusses on higher education, says revenue increased along with student numbers in 2020 while it slipped into a headline loss. The Group successfully finalised the transfer of the underlying businesses of Lisof, Prestige Academy and Southern Business School into a single institution.
- Mr Price Group has announced that it will purchase 100% of Yuppiechef, a South African e-commerce business focussed on home and kitchenware. The business has two primary divisions ā Yuppiechef Online and a separate wholesale division that develops, and imports branded goods for wholesale distribution. Mr Price said the purchase will give it access to a higher earning customer base, enabling the growth of its market share through āaspirational value spendingā.
- Sun International saw group income cut by half to R6bn for 2020. Adjusted headline earnings declined to a loss of R1bn.
- The Namibian Competition Commission has imposed fines of over N$20m on players in the insurance industry for price-fixing. Among the companies investigated are Santam Namibia and Hollard Insurance of Namibia – who admitted to unintentionally contravening the competition laws. Santam will pay a fine of N$15m, while Hollard pays a fine of N$5.5m. Other companies are still being investigated.
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