JSE-listed independent education provider Curro results for the year ending 31 December 2021 show headline earnings recovered to R245 million - 43.3% higher than the 2020 financial year.
The gross profit earned on PINless top-ups, prepaid electricity, ticketing, and gaming, which are recognised as revenue, saw a 12% jump from R32.4 billion to R36.2 billion. The considerable increase in headline earnings per share is primarily driven by higher ferrochrome and chrome ore prices as well as higher volumes sold.
President Vladimir Putin has denied Russia intends to invade, but lawmakers have given him the green light to deploy troops to separatist-held regions. Treasuries mostly fell and the yield curve flattened in the Wall Street session. There’s no cash trading in Asia due to a Japan holiday.Fears that the Ukraine tension could snarl commodity supplies has bolstered everything from energy to wheat and nickel.
Elsewhere, New Zealand’s central bank raised interest rates for the third straight meeting and signaled it will need to lift them higher than previously expected to contain inflation. The local dollar strengthened.Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow.
The Auto Pedigree owner’s headline earnings per share increased by 51% to 795 cents from 526 cents in 2020. Its operating profit grew by 23% to R2.1 billion, from R1.7 billion in 2020, while its profit before tax increased by 46% to R1.8 billion.Motus declared a R725 cents dividend per share, up by 72% from 160 cents in 2020.
Its earnings per share are likely to decline between 15% and 20%, to between 1 275 cents and 1 355 cents. The move came hours after the Kremlin appeared to pour cold water on a potential summit with US President Joe Biden and led to condemnation from world leaders and warnings Moscow would be hit with a series of sanctions.
Crude -- already up more than 25 percent this year on surging demand -- piled higher still on Tuesday, with Brent closing in on the $100 mark for the first time since 2014.