Business Overview | Gold Fields falls from grace, Toyota scraps scandal-hit Daihatsu chairs

It was a pretty weak day for corporate news, with Gold Fields falling despite saying it nearly met its guidance. In international news, Japanese automaker Toyota Motor Corporation has made changes to its subsidiary Daihatsu Motor Corporation's board of directors, including eliminating the position of chairman, amid an embarrassing scandal over falsified safety tests. .

Global miner gold field announced on Tuesday that production for the year to the end of December is expected to fall 4% to approximately 2.3 million ounces, with production expected to be 99.7% of plan and costs within plan. The mining company, which has only one remaining mine in the South-South, South Deep, will continue to record overall earnings per share in 2022 after benefiting from a moratorium related to the failed Yamana Gold acquisition. is expected to decline by 18% to 24%. . Like its peers, the company has benefited from rising precious metal prices in 2023, with its stock price up by about a third over the past year. It fell nearly 3% on Tuesday.

South Africa's largest building materials retailer cache build warned shareholders that it expects its comprehensive earnings per share to fall by 15% to 20%, or at least about 520 cents, in the six months to December 24. Meanwhile, earnings per share could fall to 0 cents due to write-downs on income statement hardware due to the current constrained economic environment. Cashbuild's model is based on selling directly to cash-paying customers through more than 300 stores, which also include approximately 50 P&L hardware retailers targeting the lower-end market . The company also posted an income statement in fiscal 2023, when profits fell by almost three-quarters. Cashbuild's shares fell 4% on Tuesday, dropping by almost a quarter in the past 12 months.