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Wednesday, 18th January 2017

South Africa News Headlines

Mr Price CFO sells down stake
Johannesburg Mr Price Groups CFO Mark Blair on Tuesday sold shares in the company worth R500 000. This, coincidentally, was the same day that the company reported a lacklustre trading update, which saw its stock lose some ground before recovering the end the day at R156.00. On Wednesday morning, it was trading as much as a percent lower when compared to its opening price. Blair sold 3 230 shares on the open market at a price of R158.50 in a deal worth R511 955. Mr Price said on Tuesday that income grew 0.4 percent in the three months to December, while inflation was above 10 percent.Read also: Inflation knocks Mr Price sales In a statement the company said total sales came in at R6.4 billion, while retail sales were R6.1 billion, 0.5 lower year-on-year. Stripping out the bonus of 53 weeks in the year to April, Mr Price said sales growth in its wholly-owned stores came in at between 5 percent and -0.6 percent. All its brands, which includes Miladys and Sheet Street, experienced declines when it comes to comparable store sales which strips out additional stores, with the exception of Sheet Street. On the same like-for-like basis, monthly sales growth reflected an improving trend in festive season trade. Group sales in December increased by 3.9 percent. BUSINESS REPORT ONLINE | Absa report: Rupert calls it fiction, Stals misquoted
The Public Protectors leaked interim report that recommends Absa pay back the SA Reserve Bank an outstanding interest of R1.225bn is being ripped apart by the seams.

De Villiers not retiring from Tests, but opts out of New Zealand series
AB de Villiers has said he is not retiring from Test cricket, squashing speculation over the last few days that he was going to give up the longest format

De Villiers not picking and choosing Tests - Lorgat
AB de Villiers is "not picking and choosing" the Tests he plays, according to CSA chief executive Haroon Lorgat | Penalty! Read now ...
The internet is a tangled 'web' and stories can pass you by in seconds. Here are 10 soccer articles you may have missed on Tuesday, January 17. | Canadian queen's comeback gathers pace
Eugenie Bouchard's return to form has gathered pace after she dispatched China's Peng Shuai in straight sets to blast into the Australian Open third round. | Zim's inflation closes year in the negative
Zimbabwes annual inflation rate for the month of December 2016, as measured by the all items consumer price index, gained 0.16% to -0.93%, from Novembers rate of -1.09%. | Federer made to work by spirited qualifier
Roger Federer didn't have things all his own way as he got past spirited American qualifier Noah Rubin to reach the Australian Open third round. | Aalborg set to make final decision on Gordinho
Kaizer Chiefs centre-back Lorenzo Gordinho has returned to South Africa following his trial with Danish club Aalborg BK. | Klaasen headlines SA Davis Cup squad
Tennis South African has announced its Davis Cup squad for the upcoming tie against Estonia.