S&V Weekly Newsletter Vol.6 No.11, March 16, 2020
This Newsletter is sponsored by SAFLIA
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Virus Shutdown: Factories "Not affected yet"
Umhlanga, KZN, SA (March 16, 2020) – The stringent measures announced yesterday evening by the government to attempt to stop or slow the spread of Covid-19 "do not affect factories at this point", Saflia director Jirka Vymetal said this morning.
Retail so far this year
"Horse riding has become a very expensive sport, and fewer parents can afford it for their children. Among adult riders, there's been a swing to the Western Mounted Games discipline, which has fewer dress rules, which impacts on us. Overall, margins are down. The other side of our business, supplying shoe repairers, is stable." - Ahmed Dadoo, Saddle Creek Enterprise (Pty) Ltd, Vereeniging, Gauteng, SA. Independent, 1 store, saddlery, harness and riding boot specialist.
Stock Exchange News Service (SENS)
AVI interim results, December 2019
Johannesburg, Gauteng, SA (March 09, 2020) – Revenue for the interim period increased by 1% to R7.142 billion (2018: R7.069 billion), gross profit increased 0.1% to R2.967 billion (2018: 2.965 billion), profit attributable to owners of AVI rose to R1.349 billion (2018: R994.2 million), while headline earnings per share decreased by 3.8% to 293.8 cents per share (2018: 305.5 cents per share).
Pepkor - trading and the impact of the Coronavirus
Cape Town, W Cape, SA (March 11, 2020) – The following update was provided at the Pepkor annual general meeting today by Leon Lourens, the Chief Executive Officer of the Company: Consumers have remained under financial pressure in the current economic environment and trading remains volatile. Trading during January was stronger in both Pep and Ackermans which achieved double-digit growth in sales on the back of the shift in "back to school". This was followed by weaker trading in February and brings year-to-date performance largely in line with that what was reported during the first quarter.
HomeChoice final results December 2019: Profile data summary
Cape Town, W Cape, SA (March 12, 2020) – Revenue for the year increased by 7.3% to R3.5 billion (2018: R3.2 billion) and operating profit dropped 11% to R679 million (2018: R763 million). Profit and total comprehensive income for the year decreased by 13.8% to R455 million (2018: R528 million). In addition, headline earnings per share were 14.1% lower at 436.0 cents per share (2018: 507.7 cents per share).
They Said It
"I don't believe in wasting people's time." - Bolton Footwear MD and BBF Safety Group MD Alan Fleetwood (a big cheese, in other words), on why he takes calls without them being screened by a secretary or PA. No doubt he'd soon cut off someone he doesn't feel should be calling him, but maybe some other senior people should take note.
The 2020 S&V Directory - Order now
The 2020 edition of the S&V Directory is in production and will be available soon. The online version is available immediately at R450 for 12 months' access.
2020 Trade Fairs Another essential service from S&V
Please note that we have updated most 2020 trade fairs and conferences on our website, linked to their websites: http://www.svmag.co.za/events
ABSA Agri Trends: Hides & skins prices
Hide prices (March 11, 2020) - The current average hide price increased marginally by 0.4% to R1.30/kg from R1.29 a week ago. The current price, however, is 4.8% lower than the average price a month ago and is 20.5% lower than the average price a year ago. The hide market remains in dire straits. Supply chains in Italy and China (and other regions) have been significantly disrupted due to the coronavirus outbreak, and until that normalizes, the global and local hide prices are expected to remain volatile. - Conce Moraba, agricultural economist, Absa group.
16/03/1961: Doc Motala, Crown Footwear, Pinetown.
In Memoriam this week
17/03/1995: Kees Pulles, Futura Footwear, Loskop.
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Have a look at these links
We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, email@example.com
Next newsletter: March 23, 2020.