Group Five says it expects fully diluted headline earnings per share for the six months ended December 2014 to fall by between 40% and 50% compared with the year-earlier period.
Major construction and engineering companies in SA bemoan the lack of significant public infrastructure spending, despite R4 trillion being earmarked for this over 15 years to drive basic service delivery.
N17 Toll Operators, one of the 25 construction firms that did not settle with the Competition Commission during the initial fast-track process for companies involved in collusion, settles and agrees to pay a fine of R424,121.
Group Five is awarded a R4bn engineering, procurement and construction contract by Ghanaian energy group Cenpower Generation.
Group Five achieves an 'improved' six months ended December, as revenue growth is bolstered by energy sector and buildings work,according to CEO Mike Upton.
Group Five reports a 40.7% rise in headline earnings per share to 204c for the six months ended December 2013 from 145c a year earlier
Group Five expects headline earnings per share in the six months to December 2013 to rise by between 30% and 40% from a year ago.
South African construction firms are are well placed to compete for mining and energy contracts in Africa, says Global Credit Rating.
Construction companies increase their employee numbers more than any other sector during November and last year, says Adcorp labour market economist Loane Sharp.