South Africa

Revised Business Model Spurs Profits At South Africa's RCL Foods

South African poultry producer RCL Foods reported a 50% jump in full-year profits on Tuesday. Diluted headline earning per share (HEPS) rose to 94.5...

South Africa's Shoprite Posts Flat Like-For-Like Sales In Full Year 2017/18

South Africa-based retailer Shoprite Group has posted a 0.1% decline in like-for-like sales in its financial year ending 1 July 2018, however the group's S...

South African Consumers Dropping Products From Shopping Lists To Save Money: Nielsen

A new study by Nielsen has found that South African shoppers are dropping products from their weekly shopping lists to save money, with the three most-affe...

Steinhoff Unit Hemisphere Gets Creditor Support For Debt Lock-Up

South African retailer Steinhoff said on Thursday that lenders to its subsidiary Hemisphere had agreed to hold off their debt claims and the firm will now...

Steinhoff's Creditors Support Debt Lock-Up, Key To Saving Retailer

Steinhoff's creditors agreed to hold on their debt claims for three years, the embattled retailer said on Friday, throwing a lifeline for the South African...

Steinhoff Says Around 90% Of Creditors Support Debt Lock-Up

Steinhoff said on Thursday that around 90% of creditors for several subsidiaries supported an agreement to hold off debt claims for three years, an importa...

Steinhoff Extends Lock-Up Early-Bird Fee Deadline For Second Time

Steinhoff extended its 'early-bird fee' deadline for the second time on Wednesday, for creditors to sign a three-year agreement to hold off their debt clai...

Steinhoff In Talks With Creditors Over Deal To Delay Debt Claims

Steinhoff is in talks with creditors over an agreement to hold off debt claims for three years while the troubled South African retailer restructures &euro...