Latest news with #R2.8bn
TimesLIVE
6 days ago
- Business
- TimesLIVE
These are areas where Joburg roads agency will spend its budget
The Johannesburg Roads Agency (JRA) on Tuesday spelt out where it intends spending a capital injection of R2.8bn over the next three financial years, kicking off with R912.8m for this financial year. 'Every rand allocated will be used efficiently and effectively to make a tangible difference in the lives of Johannesburg residents and road users,' JRA CEO Zweli Nyathi pledged. Key projects include: Upgrading high-traffic corridors that link townships to major economic centres to ease congestion and enhance connectivity. The citywide resurfacing programme spans roads linking Kliptown to Eldorado Park, Lord Khanyisile Road, London Road in Alexandra, the M1 and M2 and the Soweto highway. In the 2025/2026 financial year, R189m will be invested in stormwater expansion in vulnerable areas such as Orange Farm, Ivory Park, Braamfischerville, Protea Glen and Kliptown to enhance flood mitigation. This encompasses the conversion of open drains to underground channels, the rehabilitation of open channels, emergency stormwater repairs and the development of new stormwater catchments. Ensuring the structural integrity of bridges and culverts. The city has allocated R152m for bridge rehabilitation in the 2025/2026 period in areas including Sjampanje Street bridge, Elias Motsoaledi bridge, Moroka Nancefield Road bridge, FNB Stadium bridge, Lenasia bridge and the New Naledi bridge. Upgrading traffic signal infrastructure at a cost of R60m for the 2025/2026 period. Priority areas are Winnie Mandela Drive, Hendrik Potgieter Road, Malibongwe Drive, Chris Hani Road, Main Road, Ontdekkers Road, Mooki Road and the Soweto highway. The upgrading of gravel roads to surfaced standards will continue in previously underserved areas including Kaalfontein, Orange Farm, Tshepisong, Diepsloot and Mayibuye.
IOL News
10-06-2025
- Business
- IOL News
Market cheers as Telkom rings in robust results
Telkom store at N1 City in Goodwood, Cape Town. Image: Ian Landsberg/Independent Newspapers The market on Tuesday cheered as Telkom rang in robust results for the year ended 31 March and resumed its dividend, which saw its share surge 7%. In morning trade the share was up 7.35% at R42.95 on the JSE. Telkom said mobile subscribers were up 13.4% to 23.2 million. Serame Taukobong, Telkom Group CEO said, 'The company has largely modernised its technology infrastructure and executed on a robust, detailed strategy across its operations. The financial results for FY2025 confirm that the business has not only stabilised but has built a platform for accelerated growth." In key financial metrics, adjusted headline earnings per share rose 102.4% to 583.2 cents; while adjusted basic earnings per share were up 128.9% to 681.7 cents. Ebitda was up 25.1% to R11.8 billion; while revenue rose 3.3% to R43.9bn; with free cash flow up 555.2% to R2.8bn. Taukobong said Telkom's differentiated strategy over the past year centred on three key pillars: The first pillar was sales engine optimisation. "We engineered our sales engine to prioritise efficiency, streamlining regional teams into agile, data-driven units and investing in digital tools to empower frontline teams." The second pillar was network excellence. "We prioritised strategic investments in our infrastructure, expanding fibre and 4G/5G coverage to underserved areas while enhancing urban network performance." The final pillar was customer-centric value. "We continued disrupting the market by expanding our flexible, affordable plans tailored to diverse segments, from data-centric bundles for cost-conscious users to seamless connectivity solutions for small, medium and large enterprises. We supported these with transparent pricing and proactive service," he said. Taukobong said in a significant milestone, Telkom had successfully concluded the disposal of Swiftnet, the masts and towers business to the consortium led by Actis and Royal Bafokeng Holdings with a total cash consideration of R6. 618bn received on March 27. "We are strategically dedicating R4 750 million of the proceeds post year end to strengthen our balance sheet. This deliberate move is aimed at fortifying the balance sheet for future growth, fuelling innovation, and ensuring we maintain a competitive edge in a dynamic market. The remaining proceeds are earmarked for profit-enhancing capital investments as well as a special distribution to shareholders," he said. Serame Taukobong, Telkom Group CEO. Image: Supplied The group reinstated its dividend, saying it will return a total dividend of R1.3bn, which includes an ordinary cash dividend of R833 million (163 cents per share) and a special dividend of R500 million (98 cents per share) from the completed disposal of the Swiftnet masts and towers business, resulting in 261 cents per share being returned to Telkom shareholders. Across its various segments, Telkom reported notable growth. Telkom Consumer saw a 10.2% increase in mobile service revenue, supported by a 19.5% rise in its mobile data subscriber base, which reached 15.2 million. Openserve recorded a 5.9% increase in fibre-related data revenue and achieved a market-leading fibre-to-the-home connectivity rate of 50.4%. BCX posted a 12.7% increase in fibre-related data revenue, along with a 5.8% growth in cloud services revenue. Gyro, Telkom's standalone infrastructure subsidiary, contributed to improved liquidity by realising total cash proceeds of R730 million from the transfer of 57 properties. Looking ahead, Telkom said its medium-term roadmap leverages its current momentum as it sets "ambitious yet achievable objectives for the next three years". Maintaining a strong balance sheet remains a top priority; a focus on efficiency as well as monetising infrastructure assets and improving medium- to long-term returns. "Essential to achieving these financial targets is continued stability in South Africa, a growing economy supported by a macro-economic environment that does not deteriorate from current levels, and a stabilised energy supply. While their impact is not yet visible, recently escalated global tensions and emerging trade wars could limit South Africa's economic growth, " Telkom said. BUSINESS REPORT Visit:
IOL News
26-05-2025
- Business
- IOL News
Life Healthcare Group reports 10. 5% rise in interim divided and plans expansion
Life Healthcare Group, which reported strong operational results for the six months to March 31, 2025 from its network of private hospitals and other healthcare facilities, said the disposal of its Life Molecular Imaging business was expected to be finalised in the second half. Image: Supplied Life Healthcare Group lifted its interim dividend by 10.5% to 21 cents a share in the six months to March 31, and it intends to continue growing its underlying asset base significantly in Southern Africa during the second half. The group, which operates 64 healthcare facilities across South Africa and Botswana, plans to add 58 acute hospital beds and 24 acute rehabilitation beds, and it will start building the new 140-bed Life Paarl Valley Hospital in the Western Cape. A new cath-lab and a new vascular lab will also be added to the acute business, as stated by CEO Peter Wharton-Hood in the results statement. The group will continue to grow its diagnostics business, with further transactions expected to be completed in the second half, as well as the addition of two new PET-CT sites. 'The southern African business will look to drive occupancies to 70%, with paid patient days (PPD) growth expected to be 1.5%. The southern African business will continue to optimise its asset portfolio and focus on operational efficiencies,' he said. Capital expenditure for the 2025 year is expected to be R2.3 billion. The R13.9bn Life Molecular Imaging (LMI) disposal to Lantheus Holdings is also expected to close in the second half. In the six-month period under review, there has been robust activity growth, with paid patient days (PPDs) up by 2% and occupancy at 68.6%. Revenue from continuing operations increased by 8.1% to R12.1bn. Normalised earnings per share increased by 9.1% to 49 cents. Earnings per share (continuing and discontinued operations) decreased to negative 155.2 cents from 242.8 positive cents in the first half of 2024, mainly due to the R2.8bn one-off gain in the first half of 2024 following the completion of the Alliance Medical Group disposal, and a R2.9bn fair value loss on the Piramal contingent consideration in the first half of 2025. The group remains in a strong financial position. As of March 31, 2025, net debt to normalised EBITDA (earnings before interest, tax, depreciation, and amortisation) of 0.65 times is well within the covenant of 3.5 times. Cash from continuing operations was R2bn and represented 105.3% of normalised EBITDA from continuing operations. The strong operating performance for the six-month period, with revenue up by 8.1%, was driven by 'robust activity growth,' benefits from acquisitions concluded in the second half of 2024, and a tariff increase. The acute hospitals delivered strong revenue growth in the period, with PPDs growing by 2% on a like-for-like basis. This translated into a higher occupancy of 68.3% compared to 66.2% in the prior period. The acute hospitals had a strong second quarter, with occupancies over 71%, benefiting from the timing of the Easter and school holidays. Visit:
IOL News
25-04-2025
- Business
- IOL News
Travelers spark rising interest in guest houses and farms
Hotels continue to be the most popular holiday accommodation type, although guest houses and guest farms are catching up with income from the overall sector having exceeded the figure captured just before COVID-19. Hotels continue to be the most popular holiday accommodation type, although guest houses and guest farms are catching up with income from the overall sector having exceeded the figure captured just before Covid-19. This is according to Statistics South Africa's latest print on tourist accommodation, which covers February this year. This data indicates that income from lodgings, on a seasonally adjusted basis, is now at the highest level it has been at since at least January 2020. Between December last year and February 2025, the tourist accommodation sector accounted for R9 billion, with R2.8bn of that amount having been earned in February. Year-on-year, income from accommodation increased by 12.2% in February. This was the result of a 2.4% increase in the number of stay unit nights sold and a 9.5% increase in the average income per stay unit night sold. Over a three-month period (last December to this February) the gain in income was 13.8%. The tourism industry was expected to contribute 8.8% of South Africa's total gross domestic product last year, contributing more to economic growth than transport, mining, and agriculture. Last August, Minister of Tourism, Patricia De Lille, said that South Africa's tourism sector employed 1.46 million people in 2023, a figure that is projected to grow to 2.23 million jobs in 2030.
Zawya
04-03-2025
- Business
- Zawya
South Africa: JSE outshines market indices with stellar 2024 performance
The JSE reported significant earnings growth for its 2024 financial year, despite heightened geopolitical tensions and subdued economic growth in the first half of 2024. The bourse's strong performance was driven by business resilience, stability, and greater revenue diversification across its non-trading business segments. The Group reported an increase in net profit after tax (NPAT) of 10.4% to R918m with a return on equity (ROE) of 20.2%, up from 19.4% in the prior year. The JSE's share price outperformed headline indices, delivering 30% year on year growth during 2024. The JSE continues to be cash-generative with net cash generated from operations of R1.09bn, which enabled the Board to declare an ordinary dividend of 828 cents per share for 2024 (2023: 784 cents), generating a total shareholder return of 40% for the year. 'We recorded revenue growth across most of our asset classes off the back of sustained positive market sentiment following the formation of the Government of National Unity (GNU). Our strategy to build a diversified and resilient exchange group resulted in non-trading income increasing to R1,170m and it now contributes 37.8% of operating income (2023: 36.8%),' said Leila Fourie, JSE Group chief executive officer. 'I am particularly pleased with the structural reductions in our cost base, which helped restrain total expenditure growth to 6.2%. This performance was underpinned by robust and resilient systems and operational processes and uptime of 99.97% across all our systems – above our long-term average.' 'The Group is committed to its growth and diversification strategy. These solid results demonstrate the value of our investments across the value-chain, in our technology and our people, and provide further momentum for future growth,' continued Fourie. Strong cash growth The JSE has exhibited a healthy cash generation and robust balance sheet. At the end of December 2024, the cash balance stood at R2.8bn (including bond investments) with net cash generated from operations at R1.09bn (2023: R1.11bn). Total income increased by 6.5% to R3.167bn which was supported by the diversified asset classes in the business. The diversification of revenues at the bourse protected operating income from a year of muted equity market activity, with most business segments reporting growth in revenue for the financial period. The JSE Investor Services (JIS) revenue was up 20.2%, Primary Markets revenue up by 15.6%, commodity derivatives revenue up 11.6% and revenue from bonds and financial derivatives up 6.6% YoY. The JSE made meaningful strides in driving its strategic priorities in 2024. Uptime across the markets was at an all-time high at 99.97% versus 99.89% in 2023. In line with its technology enablement journey, the bourse has made progress in the modernisation of its BDA system and further launched new technology services such as Colo 2.0. The Group is in the process of developing a central clearing solution for the bond electronic trading platform (ETP). Revenue performance per segment: Capital Markets Primary market: +15.6% to R187m Equity trading: +0.2% to R444m Colocation fees: +10.0% to R47m Equity derivatives trading: -1.9% to R115m Bond and financial derivatives: +6.6% to R139m Commodity derivatives trading: +11.6% to R89m JSE Investor Services (JIS) JIS: +20.2% to R229m Post-Trade Services Clearing and settlement revenue: -0.5% to R409m Back-office services (BDA) revenue: +12.7% to R415m Funds under management revenue: -8.2% to R95m JSE Clear JSE Clear: +5.5% to R118m Information Services: Information Services" +1.1% to R454m 'Our future prospects and long-term strategic objectives are underpinned by operational resilience, diversified revenue streams and innovative technology advances. Building a future-fit and diversified financial market infrastructure backed by innovation and modern infrastructure is the Group's apex focal point,' concluded Fourie. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
