Group Five delivered a pleasing improvement in earnings for the full year to June 2016 due to an exceptional result from the Investments & Concessions cluster, boosted by significant fair value profit realised from the group’s Eastern European project investment portfolio.
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.