It has been an eventful 3-months for Brikor Lmited on the JSE with the appointment of directors, evading liquidation and committing to acquisitions.

Published in Construction Industry

Brikor reports interim results that reflect its 'profitable turnaround'.

Published in Company News
Monday, 02 December 2013 07:58

Brikor sees H1 HEPS 3.5c-4.5c v 1.3c

Brikor says it expects its HEPS for the six months ended August of 3.5c-4.5c from the previous corresponding period's 1.3c.

Published in Company News

Shares in Brikor rally 18% to 13c after the group reported a return to profitability for the year ended February.


\"\\"Garnett\"Shares in Brikor‚ an AltX listed manufacturer and supplier of building and construction materials‚ rallied 18% to 13c on Wednesday after the group reported a return to profitability for the year ended February.
 
The group’s revenue increased 66% over the year to R223.8m‚ while gross profit grew 64% to R67.9m. Diluted headline earnings per share from continuing operations were 2.0c compared to a 2.3c loss previously. “The group’s margins improved substantially in a competitive trading environment through effective cost management initiatives and a concerted effort on sustainable working capital management‚” Brikor said.
 
The group said its focus “returned to core operations” while its coal operations were successfully commissioned.
 
The substantial growth in revenue was attributed to the addition of coal sales to the group‚ along with increased sales in the group’s aggregate division.
 
“Gross profit percentage improved visibly as a result of cost management and high margins achieved in the coal and aggregate divisions‚ increased volumes in the aggregate division and an improvement in yields in the brick division.”
 
Brikor’s Donkerhoek operation produces aggregates of a wide variety of sizes and technical specifications with products including stone‚ gravel and sand for both large- and small-scale civil engineering and infrastructure projects.
 
The group said improvements in the Donkerhoek production process “resulted in better yields and volumes achieved and consequentially the securing of tenders‚ which were previously unattainable”.
 
The commencement of supply on these projects contributed substantially to the profits achieved for the year.
 
The group’s brick division sales improved marginally due to higher average sales prices attained. “The effect of an increase in production volumes is expected to show returns in the next reporting period.”
 
Meanwhile‚ Brikor successfully commissioned the coal operations at Vlakfontein‚ giving it access to clay and coal deposits. “The mining of coal has shown considerable returns and assisted with the increase in turnover and margins during the reporting year.”
 
Brikor said it was benefiting from a “gradual improvement” in market conditions and said it had positioned itself accordingly to generate maximum benefits from trading condition improvements.
 
“Assuming that current market and economic conditions will not deteriorate‚ Brikor is expecting continuing improved results in the next financial year.” No dividend was declared for the year.
Published in Construction Industry
Thursday, 27 June 2013 11:27

Brikor returns to profit

Brikor reports diluted headline earnings per share from continuing operations of 2.0c for the year ended February 2013 from a loss of 2.3c a year ago.


\"GarnettManufacturer and supplier of building and construction materials Brikor (BIK) has reported diluted headline earnings per share from continuing operations of 2.0 cents for the year ended February 2013 from a loss of 2.3 cents a year ago. Total diluted HEPS were 1.3c from a loss of 3.3 cents previously.
 
Revenue increased by 66% to R223.8 million‚ gross profit increased 64% to R67.9 million and profit after tax improved to a R44.0 million profit from a R6.4 million loss before.
 
No dividend was declared for the year.
 
The company said margins improved substantially in a competitive trading environment through effective cost management and a concerted effort on sustainable working capital management. The focus returned to core operations and the coal operations were successfully commissioned.
 
The increase in turnover was attributed to the addition of coal sales and increased sales in the aggregate division.
 
Gross profit percentage improved visibly as a result of cost management and high margins achieved in the coal and aggregate divisions‚ increased volumes in the aggregate division and an improvement in yields in the brick division.
 
The Donkerhoek operation produces aggregates of a wide variety of sizes and technical specifications with products including stone‚ gravel and sand for large and small scale civil engineering and infrastructure projects. The improvements of the Donkerhoek production process resulted in better yields and volumes achieved and consequentially the securing of tenders‚ which were previously unattainable. The commencement of supply on these projects contributed substantially to the profits achieved for the year.
 
The Brick division’s sales improved marginally due to higher average sales prices due to improved product yields. The effect of an increase in production volumes is expected to show returns in the next reporting period.
 
Brikor successfully commissioned the coal operations at Vlakfontein‚ giving it access to clay and coal deposits. The mining of coal has shown considerable returns and assisted with the increase in turnover and margins during the reporting year.
 
Looking ahead‚ the group said it is benefiting from a gradual improvement in market conditions and has positioned itself accordingly to extrapolate maximum benefits from these improvements.
 
Assuming that current market and economic conditions will not deteriorate‚ Brikor is expecting continuing improved results in the next financial year‚ it concluded.
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