Inflation dips, oil price hurts Sasol
PRODUCER price inflation slowed to 5.8% year-on-year in December from 6.5% in November, Stats SA data showed. On a month-on-month basis, prices at the factory gate were down 0.2% in December.
THE Reserve Bank’s leading business cycle indicator rose 1% monthon-month in November, mainly due to an increase in the average number of hours worked in the manufacturing sector, a report showed.
SIBANYE Gold will increase its capital expenditure by 10% in 2015. Its gold production for 2014 was 1.59 million ounces, in line with its guidance, it said in an operating update.
FURNITURE company Lewis’s revenue grew 4% in the nine months to December on strong sales during the festive season, it said in a trading update. It also benefited from the acquisition of Beares stores in the period.
THE retail price of 95grade petrol will drop by 93c or 8.3% a litre from Wednesday, while wholesale diesel will fall by 9.9%, the government said. Petrol will now cost R10.31 a litre and wholesale diesel R9.26 in Gauteng.
SASOL will delay a decision to invest in its gas-to-liquid project in the US to conserve cash after oil prices tumbled, it said. The petrochemicals group’s share price has fallen about 34% since Brent crude slumped in June last year.
CEMENT company PPC expects headline earnings per share for the first half of 2015 to decline 25%-45% due to a weak trading environment‚ a one-off tax credit last financial year and increased finance costs this year.
MAIZE farmers are estimated to have planted 2.656 million hectares for the 2015 season, down 1.2% from 2.688 million hectares last year, the Crop Estimates Committee said in its preliminary estimate.
ANGLO American Platinum’s production fell by 17% in the fourth quarter compared with a year ago due to the strikes last year. Production slumped to 574 000 ounces, it said in a statement.
MTN, Africa’s biggest telecommunications provider, plans to issue dismissal notices to up to 578 people at its South African enterprise business unit by May 1, the Solidarity union said. MTN has said it plans to restructure.