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Host of JSE stocks up profits; Mitsubishi hit with R18bn in damages over US crash

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Business brief | Host of JSE stocks up profits; Mitsubishi hit with R18bn in damages over US crash

In a busier day for corporate news, happily a list of companies - including Lesaka, KAL, enX, Sappi, and Pan African Resources - reported profit growth, or improved losses. In international news, Mitsubishi Motors has been hit for R1 billion in damages over a US car crash, though it intends to appeal.said on Thursday its net loss improved about 27% to R76.4 million in its third quarter to end-March, with revenue picking up 9% to R2.6 billion.

Sales in its much bigger merchant division grew 8%, boosted by an increase in prepaid airtime vouchers sold and other value-added services provided, which was partially offset by a lower number of hardware sales in its POS hardware distribution business. The group also managed to book positive operating income of R15 million, from a loss of R33 million previously. Lesaka surged 12% on Thursday and has risen by about 30% in the past year. On Thursday,to pick up payments firm Adumo for R1.

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