Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  ArcelorMittal South Africa Ltd    ACL   ZAE000134961

ARCELORMITTAL SOUTH AFRICA LTD

(ACL)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 07/06
0.55 ZAR   0.00%
06/23South Africa's unemployment rate hit record high before virus
RE
06/10ArcelorMittal South Africa fined over hydrogen sulfide emissions
RE
02/07ARCELORMITTAL SOUTH AFRICA LTD : Annual results
CO
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news
The feature you requested does not exist. However, we suggest the following feature:

South Africa's Massmart says 1,800 Game jobs at risk

share with twitter share with LinkedIn share with facebook
07/07/2020 | 03:21am EDT
Shoppers stand outside the outlet for Massmart-owned Game Store in Polokwane, Limpopo province

South Africa retailer Massmart Holdings Ltd has started talks with unions to cut up to 1,800 jobs at the company's struggling Game stores as constrained spending and the new coronavirus weigh on performance, the company said on Tuesday.

Majority-owned by Walmart and operator of supermarkets and wholesalers such as Makro and Game, Massmart said talks began after it assessed the efficiency of the stores.

Massmart said it was implementing a new operating model at Game after its "indifferent performance in the 2019 financial year" and the negative impact of trading restrictions because of the pandemic on sales.

The company said it would not close any of its Game stores, however.

Game, a general merchandise chain, has been a drag on group profit as financially-constrained customers prioritise spending on non-durables, such as food, over spending on goods such as appliances.

Massmart earlier in the year said it would cut costs and restructure into wholesale and retail units, but the impact of the virus has accelerated some of the turnaround strategies.

The group lost 4.6 billion rand ($268 million) in sales during a strict nine-week lockdown.

The potential job cuts would represent around 3% of Massmart's total workforce.

Job cuts are a politically-sensitive issue in South Africa, where unemployment stands at around 30%.

Game joins some of the country's big firms such as steel producer ArcelorMittal South Africa Ltd, food producer Tiger Brands and third-biggest telecom operator Cell C, which have already announcing plans to cut jobs.

(Reporting by Tanisha Heiberg in Johannesburg and Aniruddha Ghosh in Bengaluru; Editing by Devika Syamnath and Barbara Lewis)

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 0.59% 10.152 Delayed Quote.-35.48%
ARCELORMITTAL SOUTH AFRICA LTD 0.00% 0.55 End-of-day quote.-53.78%
DOW JONES AFRICA TITANS 50 INDEX 0.78% 456.66 Delayed Quote.-16.02%
DOW JONES SOUTH AFRICA(ZAR) 0.54% 1665.73 Delayed Quote.-8.17%
MASSMART HOLDINGS LIMITED 0.18% 22.81 End-of-day quote.-55.55%
S&P AFRICA 40 INDEX 0.52% 149.76 Delayed Quote.-14.51%
TIGER BRANDS LIMITED -1.32% 187.5 End-of-day quote.-11.02%
WALMART INC. 4.53% 124.35 Delayed Quote.0.04%
share with twitter share with LinkedIn share with facebook
Latest news on ARCELORMITTAL SOUTH AFRICA
06/23South Africa's unemployment rate hit record high before virus
RE
06/10ArcelorMittal South Africa fined over hydrogen sulfide emissions
RE
02/07ARCELORMITTAL SOUTH AFRICA LTD : Annual results
CO
02/06ARCELORMITTAL SOUTH AFRICA : Media release_AMSA 2019 annual results_final
PU
02/06ARCELORMITTAL SOUTH AFRICA : Sens fy2019
PU
01/23ArcelorMittal South Africa Expects Lower 2019 Earnings
DJ
2019ARCELORMITTAL SOUTH AFRICA : Concludes Strategic Asset Footprint Review First Ph..
AQ
2019ARCELORMITTAL SOUTH AFRICA : Media release_first phase of strategic asset footpr..
PU
2019ARCELORMITTAL SOUTH AFRICA LIMITED : Half-year results
CO
2019ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop
RE
More news
Financials
Sales 2020 28 796 M 1 685 M 1 685 M
Net income 2020 -1 993 M -117 M -117 M
Net Debt 2020 6 252 M 366 M 366 M
P/E ratio 2020 -0,30x
Yield 2020 -
Capitalization 601 M 35,5 M 35,2 M
EV / Sales 2019
EV / Sales 2020 0,24x
Nbr of Employees 8 379
Free-Float 22,3%
Chart ARCELORMITTAL SOUTH AFRICA LTD
Duration : Period :
ArcelorMittal South Africa Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ARCELORMITTAL SOUTH AFRICA
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 0,79 ZAR
Last Close Price 0,55 ZAR
Spread / Highest target 45,5%
Spread / Average Target 43,6%
Spread / Lowest Target 41,8%
EPS Revisions
Managers
NameTitle
Hendrik Jacobus Verster Chief Executive Officer & Executive Director
Paul Mpho Makwana Independent Non-Executive Chairman
Jake Olivier Chief Operating Officer
Avinash Desmond Maharaj Chief Financial Officer & Executive Director
Vasco de Sousa Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL SOUTH AFRICA LTD-53.78%35
BAOSHAN IRON & STEEL CO., LTD.-9.23%16 347
CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD.35.38%13 308
CHINA STEEL CORPORATION-13.18%11 005
JSW STEEL LIMITED-29.29%6 234
EVRAZ PLC-26.76%5 388