Company News in Brief

Stadio headline earnings climb to R267 millionPrivate higher education group STADIO, which started in 2017 with just 840 students, reported on Monday that revenue climbed 14% to R1.6 billion and core headline earnings — its preferred measure that removes non-trading related items — climbed 28% to R267 million in its year to end December. Its student base grew 8% to 50 039 in the second semester, with distance learning students growing by 14%. The group increased its final dividend by 51% to 15.1c per share — or R128 million — and has no external debt. Its margins improved, including its loss allowance falling to 8.7% from 9%, and CEO Chris Vorster told investors during a presentation on Monday that the group is in position to "shift gears" after laying a foundation for growth. -FIN24 Anglo American Platinum to undergo name change Anglo American Platinum, the world's largest platinum-producing company, has proposed changing its name to Valterra Platinum ahead of its imminent demerger from the Anglo American group. In a market announcement released late last week, the South African-based business notified shareholders of the proposed name change, which will require approval at the upcoming annual general meeting (AGM). Amplats did not provide further detail on the name, but it appears to be Germanic in origin and often interpreted as "mighty warrior", signifying strength and leadership. The AGM will take place on 8 May, with Amplats anticipated to begin trading as Valterra Platinum Limited on the JSE on 28 May. -FIN24 BYD sees surge in revenue, surpassing $100bn Chinese battery and carmaker BYD saw a surge in revenue last year, a stock filing showed Monday, surpassing the $100 billion (about R1.8 trillion) mark and beating rival Tesla as the Shenzhen-based firm accelerates its overseas expansion. The Chinese electric vehicle champion recorded 777.1 billion yuan (R1.94 trillion) in revenue for 2024, eclipsing the $97.7 billion in revenue last year announced previously by Tesla. - AFP

Company News in Brief

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