Tiger Brands has appointed Barati Mahloele as the first director for its Venture Capital Fund that was launched last year.
The European single currency was last at $1.1368, up 0.2% on the day. The pound was 0.2% higher at $1.3636 and the yen was unchanged at 114.33 per dollar. Elsewhere, a combination of higher commodity prices and expectations for tighter policy supported the Aussie and the Loonie. Woolworths has warned that its headline earnings will fall by between 30% and 40% for the 26 weeks to end 26 December, compared to the same period in the previous year.
Its fashion, beauty and homeware business grew sales by 4.2%, with prices up by 5.4%."Trading momentum slowed in the last six weeks of the period primarily due to womenswear performing below expectations." Online sales grew by 19.2%, contributing 4.4% of South African sales. Across the group, Distell’s revenue increased by around 15%, with sales in the rest of Africa seeing mid-single-digit revenue growth despite lockdowns and sales restrictions. Botswana lost almost a third of its trading period due to these restrictions, and Distell was also hit by stock supply issues in Namibia.
Its offer will split Distell into two businesses. Distell's cider and other ready-to-drink beverages as well as spirits and wine brands will form a new business , which will be combined with Heineken's southern African business and the Dutch group's interest in Namibia Breweries Limited , which owns Windhoek and Tafel.Capitec slumps after BEE deal statement
European and US stock markets rose Wednesday, with easing Omicron virus concerns eclipsing fresh fears of monetary policy tightening in both Britain and the eurozone as the world battles rocketing inflation, dealers said. Wall Street moved higher at the opening bell, recovering part of the ground Tuesday when it suffered sharp losses. The Dow added 0.2 percent, the S&P 500 rose 0.4 percent and the tech-heavy Nasdaq Composite climbed 0.6 percent."There's still so much anxiety around inflation and interest rates across the markets," he added.
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