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Invicta reports increase in operating profit despite challenges
Published: 24 Jun 24
In its audited consolidated results for the financial year ended March 31, investment holding and management company Invicta Holdings reports that its operating profit grew by 8% to R702-million, with cash generated by operations increasing by 28% to R818-million, with a focus on reducing debt. “Notwithstanding the challenging environment, we are extremely proud of how our businesses performed during the year. In particular, the resilience of our management teams and the robust nature of our consumable parts businesses shone through,” expresses Invicta CEO Steven Joffe.
Hyprop property Hyprop expects higher full-year tenant revenue in South Africa, Eastern Europe
Published: 24 Jun 24
Shopping centre-focused real estate investment trust Hyprop Investments continues to make progress on key priorities having been set for the 2024 financial year ending June 30, including operational improvements. The company advises in a pre-close operational update issued on June 24 that in the five months ended May 31, the company started implementing its acquisition of Table Bay Mall, which increases the group’s exposure and footprint in the Western Cape.
Doing it ourselves is the solution to SA’s impending water crisis
Published: 24 Jun 24
Civil rights organisation AfriForum is taking a “doing it ourselves” approach to ensure water security across South Africa. Tabling its national water strategy during its water conference on Monday, AfriForum proposes to correct the systemic failures and deterioration of water supply at local governmental level, while offerng much-needed relief to communities suffering from the consequences of the impending water crisis.
Rand Water successfully completes first pipeline maintenance ahead of schedule
Published: 24 Jun 24
Rand Water has successfully completed the proactive extensive maintenance of the F5 Pipeline in Mogale City local municipality, which started on June 22, nine hours ahead of schedule. The project, which marked the start of the water utility’s extensive month-long maintenance plan across Gauteng, entailed connecting the F16 pipeline to the new F5 pipeline and to new meters.
DWS assures it is ready for Lesotho Highlands tunnel closure
Published: 24 Jun 24
The Department of Water and Sanitation (DWS) is ready for the upcoming six-month closure of the Lesotho Highlands tunnel for maintenance from October until March 2025. The department and relevant stakeholders in the water sector have taken all necessary measures to ensure that the water supply in Gauteng will not be affected during the shutdown, said DWS Gauteng provincial head Justice Maluleke.
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