MTN holding back on an interim dividend

MTN’s shares fell on Friday after the network operator said it didn’t plan on paying an interim dividend – despite flagging a strong rise in first-half earnings just a week earlier. It’s still focused on reducing debt by selling non-core businesses and also wants to maintain its liquidity to deal with any further fallout from Covid-19.

Novus Holdings, the printing and packaging group that was unbundled from Naspers close to three years ago, expects the impact of the pandemic to be lasting, particularly as a result of all the magazine titles that have closed permanently. It only expects to return to a profit in its 2022 financial year – if all lockdown restrictions are lifted by the end of March.

Meanwhile, Glencore has been supported by its counter-cyclical marketing business, with the result that it believes its full-year performance will come in at the top end of its guidance.

More on those stories to follow, along with results from Sebata Holdings and Astoria Investments, which says it’s been encouraged by trading at CNA since stores were reopened as lockdown restrictions were eased.

Finally, with travel restrictions also starting to ease and intra-provincial leisure travel now allowed, Resorts is offering the chance to win a weekend getaway, giving the lucky winner something to look forward to after more than four months of lockdown. Click here to find out more.

-Stephen Gunnion

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