Construction companies domestically are employing a new strategy to survive in a sector stunted by an economy that is not expected to grow at all.
Group Five expects headline earnings per share for the year ended June 30 2016 to increase by more than 20% from 205c in the year-earlier period.
General builder confidence declines from 46 to 44 in the first quarter of 2016, which is the result of a slowdown in building activity and increasing pressure on profitability.
The City of Jo’burg, the host city of the 2016 African Construction Expo and Totally Concrete Expo, held an investment breakfast on the third and final day of the event - which took place from 09 to 11 May at the Gallagher Convention Centre, Midrand, Johannesburg.
Three construction companies are to appear before the Competition Tribunal today, facing arguments in price fixing in the build-up to the 2010 World Cup.
With the construction sector resembling a sort of rubble, what with all the majors on their knees as the chickens come home to roost and some worth a fraction of the values they boasted before the lid was lifted on collusion, affordable housing firm Calgro M3 is worth a look.
Construction investors, starved of good news, were impressed by Wilson Bayly Holmes-Ovcon’s trading statement.
Group Five has its eastern European investments and concessions business to thank for improved earnings in the six months to end-December last year, as SA's construction market continues to languish.
Group Five grows earnings in the first half of its financial year from the low base and buoyed by the performance of its investments and concessions cluster.
Group Five expects headline earnings per share to be 15%-25% higher at between 125c and 136c for the six months to December 31 2015 from 109c per share in the year-earlier period.