Gayton McKenzie accused of not understanding fashion industry after his meeting with Shein
Fashion designer David Tlale said he doesn’t think Gayton McKenzie understands the complexities of the clothing and textile industry.
Remgro has large shareholdings in several major South African companies, such as Mediclinic, OUTsurance, Seacom, Heineken Beverages, FirstRand and the Blue Bulls.
South Africa’s richest man, Rupert, is the chairman of Remgro and owns close to 50% of the company, including all of the company’s B shares.
The company’s history traces back to tobacco giant Rembrant, which was created by Rupert’s father, Anton.
In a trading update for the year ended 30 June 2025, the group said that it expects a massive increase in headline earnings, which is the only metric used for trading statement purposes.
The group expects headline earnings to rise to be between R13.54 and R14.56, marking a expected increase of between 33% and 43%.
The group said that the increase in headline earnings is driven by improved operational performance from most of its investee companies and lower finance costs.
The increase also comes off the back of negative impacts on significant corporate actions in the comparative period.
Further details will be given in the group’s official interim results to be released on SENS around 23 September 2025.
issued on BusinessTech by Luke Fraser | https://businesstech.co.za/news/business/837274/billionaire-johann-ruperts-south-african-investment-group-set-for-big-earnings-boost/
