The Good ... Bidvest wants to grow but clouds gather over Sun International

Industrial group Bidvest is looking to expand its food service business in Brazil, says CEO Brian Joffe.

The company booked a 9.1% rise in half-year profit as solid demand from Asia offset a stronger rand and lower sales from its European business. Bidvest's operations include car retailing, shipping and food distribution.

• Nedbank beat expectations with a 9% increase in annual profit, helped by a fall in bad debts, and said it was well placed for growth in the coming year.

• Shares of SacOil rose nearly 4% after the company said it has acquired a 20% stake in a Nigerian oil and gas field, its second production deal in the country.

Its joint venture partner, Equity Energy Resources, has also bought a stake of the same size in the OPL281 field, located onshore in the western delta region of Nigeria, SacOil said.

• Shares in KAP International rose more than 6% as the diversified industrial group posted a 26.3% rise in first-half profit, helped by cost cuts and improving consumer demand. Among its products are fresh and processed meat and leather products.
• Trencor shares rose nearly 3% after the marine containers owner said full-year profit more than doubled.
• Construction group Aveng has agreed to pay R128-million to settle an antitrust case involving its steel business Steeldale. Aveng, Africa's largest building company, said the penalty represents 8% of Steeldale's annual revenue for the full year to June 2008.
• Insurer Santam reported a 51% jump in full-year profit, helped by a recovery in its underwriting business and few large industrial accidents and fires.
• SA's $750-million, 30-year global bond issued this week was priced at a yield of 6.292%, a spread of just 180 basis points above 30-year US treasuries, the Treasury said. Investor response to the bond was "exceedingly good", with bids received more than four times the value of the deal.

• SA's new vehicle sales increased by 25.2% year on year in February to 49164 units, according to the National Association of Automobile Manufacturers.

• Aspen Pharmacare, Africa's biggest maker of generic drugs, reported a 15% rise in half-year profit. The number was boosted by its international operations as the expansion strategy of the last few years begins to bear fruit.

• Russian company Norilsk expects nickel output at its SA joint venture with African Rainbow Minerals to reach 20000 tons a year by the end of 2012 from about 6000 tons now.

The Bad ..

Gaming and hotels group Sun International reported a flat first-half profit, hit by unfavourable swings in currencies and warned of little growth for the remainder of the year.

The company has lost nearly 7% of its market value this year.

• Growth in credit demand by SA's private sector slowed to 5.01% year on year in January, compared with 5.56% in December.
• SA's trade account recorded a R4.9-billion deficit in January compared with a R10.3-billion surplus in December. Exports decreased by 17% month on month in January while imports rose by 14%.
• Foreigners were net sellers of SA assets in the week ended February 25, selling R2.46-billion worth of equities and R1.76-billion worth of bonds, according to data released by the JSE.
• Afgri posted a 1.3% drop in first-half earnings but the agricultural services group said it was bullish on the current six months, thanks to higher maize prices.
• Furniture maker and retailer Steinhoff reported a small drop in first-half profit as unfavourable currency swings offset a slow recovery in consumer demand. The company, which also operates in Europe and the Asia-Pacific region, said headline earnings per share totalled 113.3c in the six months to December compared with 114.2c a year earlier.
• Shares of Brait tumbled more than 9% after the private equity firm said it would raise up to R6-billion through a rights issue and overhaul its business.
• Shares in Standard Bank fell as much as 1.2% after the banking group posted a 5% decline in full-year profit, hit by lower revenue and the cost of recent job cuts.
• Copper theft grew in January, costing R20.5-million, according to the SA Chamber of Commerce and Industry.
• SA's business confidence index fell to 86.4 points in February from 87.4 in January, said the SA Chamber of Commerce and Industry.
• Shares of Vox Telecom plunged more than 7% on Friday due to uncertainty about the independent telecom operator.
• Dawn shares dropped more than 11% after the manufacturer and distributor of branded hardware, sanitary ware and kitchen products said it expected half-year profit would be 50% to 55% lower than a year ago.