by Rowan Goeller | Jun 10, 2026 | Construction and Basic Materials
Key message: Impressive EBITDA expansion continues with the new RK3 plant due to boost margins even further. PPC released FY26 results. HEPS increased by 25% to 50c on a 3.9% and 67% increase in revenue and EBITDA respectively. Adjusted for unrealised foreign exchange...
by Rowan Goeller | May 20, 2026 | Construction and Basic Materials
Key message: The Bankenveld project secures a long-term pipeline with a strategic focus to reduce the number of projects under development. Calgro released FY26 results. HEPS declined 8% to 156.76c on a 3% increase in revenue. The gross profit margin declined to 27.2%...
by Rowan Goeller | May 14, 2026 | Construction and Basic Materials
Key message: Roads and renewable energy keep the order book full – but as yet no general infrastructure spend uptick. Raubex reported FY26 results. HEPS increased by 2% to 611.3c on a 5% and 12% increase in revenue and operating profit respectively. A final dividend...
by Rowan Goeller | May 5, 2026 | Construction and Basic Materials
Key message: We value PPC at R10 as a deal price should Heidelberg make an eventual offer. Heidelberg Materials has been reported as considering a bid for PPC. Heidelberg has assets in West Africa and has long been a potential suitor for PPC. There is no offer on the...
