INVESTEC today said its asset management and wealth management businesses continued to see net inflows in Q3, but overall assets under management pre the acquisition of EVOLUTION GROUP declined. The group's Specialist Banking businesses benefited from growth in margin and fee income, but earnings from principal activities decreased substantially. For the nine months to end-Dec., the group recorded an increase in total operating income net of insurance claims and depreciation of leased assets of 4.6%, while net interest income was 7.7% higher y/y. Net fees and commissions were 16.3% higher y/y, while income from principal transactions was 31.3% lower y/y. INVESTEC said operating costs increased by 6.8% y/y and operating profit before goodwill, acquired intangibles, non-operating items and taxation and after non-controlling interests is 5.6% behind the prior year. This news brief represents a summary of the original article.

HARMONY GOLD has appointed FRANK ABBOTT as its new financial director, effective Feb. 7. The company further announced that RIANA BISSCHOFF would be appointed company secretary with effect from Mar. 1. This news brief represents a summary of the original article.

EQSTRA HOLDINGS today said it expects EPS to for H1 to end-Dec. to increase by 53%-58%, while HEPS will be between 19% and 24% higher y/y. The company reported restated EPS and HEPS of 31.0c and 31.1c respectively in the corresponding period. EQSTRA said a portion of its Construction and Mining Equipment Distributorship division has been classified as discontinued operations in terms of IFRS5: Non-current assets held for sale and discontinued operations. The group further advised shareholders that talks regarding the sale of the Mining Services unit are progressing well and further announcements will be made once finalised. Results will be published on Feb. 21. This news brief represents a summary of the original article.

EXXARO RESOURCES today advised that its HEPS for FY to end-Dec. are expected to be between 1 901c and 2 140c, an increase of 27%-43% y/y. HEPS exclude the impact of the impairment of the carrying value of the Zincor property, plant and equipment and the impact of the partial impairment reversal of the carrying value of the KZN Sands property, plant and equipment, the group said. EXXARO said its consolidated net operating profit is expected to show an improvement when compared with the previous financial year, due to strong demand and higher prices across the majority of its commodity suite. This was partially offset by a stronger average realised local currency and Australian dollar against the US dollar. Attributable earnings for the year are seen to range between R6.964bn and R7.806bn, equating to attributable EPS of between 2 001c and 2 243c - a 33%-49% increase y/y. Results will be published on Feb. 23. This news brief represents a summary of the original article.

Preparatory work had been completed at RANDGOLD RESOURCES' Kibali gold project in the DRC, the gold miner said yesterday. First production was scheduled for the end of 2013. RANDGOLD is the operator and manager of the project, in which it has a 45% stake. ANGLOGOLD owns 45% of Kibali and Congolese parastatal SOKIMO owns the balance. RANDGOLD CE MARK BRISTOW said the Kibali board had approved the next three months' budget of about $80m to continue the project's "impressive momentum". This news brief represents a summary of the original article.

ANGLO AMERICAN CE CYNTHIA CARROLL was "recovering well" from an operation following a hip injury she sustained during a horse-racing accident at the weekend, the company said yesterday. CARROLL had been advised by her doctor not to travel internationally for two months. ANGLO said plans were in place to cover her overseas engagements, adding that she was in full contact with her executives and was expected back in the office by the end of next week. ANGLO stock closed up 3.3% at R340.63 yesterday. This news brief represents a summary of the original article.

PRIMEGRO is to be reborn and listed as a property loan stock company on the JSE in Q2 of this year in a deal announced yesterday with SASFIN HOLDINGS. In terms of the deal, SASFIN will dispose of its head office in Waverley to PRIMEGRO for a total consideration of R167.9m, subject to the listing of PRIMEGRO on the JSE as a property loan stock company. The purchase price for the property will be settled by way of a R134.32m cash payment by PRIMEGRO, while the balance of R33.58m in PRIMEGRO linked units, priced at R5/unit, will be issued to SASFIN at the time of the PRIMEGRO listing. SASFIN has further undertaken to lease back its head office building from PRIMEGRO for a 10-year period by way of a triple net lease and a market related rental. The transaction further makes provision for SASFIN to acquire a 25% stake in PRIMEGRO's asset management company, PRIMEGRO ASSET MANAGERS PTY LTD, at no additional cost to SASFIN. The deal is expected to be earnings enhancing for SASFIN, and the effective date of the transaction is the date on which the SASFIN property is transferred to PRIMEGRO. This news brief represents a summary of the original article.

IMPALA PLATINUM and the NUM are powerless to bring the industrial action at IMPLATS' Rustenburg mine to an end. The dismissal of around 25 000 workers at the project continued yesterday, while production came to a complete halt. By Thursday afternoon, the dismissal of 17 300 workers had been completed - of these, 4 300 were rock drill operators, who embarked on the illegal strike action last week. The NUM claimed the rock drill operators were intimidating the rest of the workforce, causing them to stay away. The drill operators are members of a rival union, the Association of Mining and Construction Union, a union that lacks recognition or organisational rights at IMPLATS. This news brief represents a summary of the original article.

The Mugg & Bean restaurant at the Festival Mall in Kempton Park was rocked yesterday by a gas explosion that left three staff members seriously injured. The explosion left the restaurant badly damaged. FAMOUS BRANDS said a detailed update regarding the injuries of the three staff members was expected from medical staff in due course, but their condition was not life-threatening. This news brief represents a summary of the original article.

SASOL has chosen a US solar thermal technology company to study the design of a solar power plant in SA. BRIGHTSOURCE and partner ALSTOM will conduct a comprehensive front-end engineering and design (FEED) study for the local market. SASOL would use the information from the study to determine how best to deploy BRIGHTSOURCE's technology in the markets it serves. BRIGHTSOURCE's system uses a state-of-the-art field of software-controlled mirrors, called heliostats, to reflect the sun's energy to a boiler atop a tower to produce high temperature, high pressure steam. The steam can then be integrated with conventional power plant components to produce predictable, reliable and cost-competitive clean energy. This news brief represents a summary of the original article.