by Rowan Goeller | Mar 6, 2024 | Construction and Basic Materials
Key message: Back to the low risk contracting model, the order book outlook looks promising for a margin uplift. WBHO released 1H FY24 results. Overall revenue and operating profit increased by 29% and 30% respectively with the operating margin flat at 4.8% as lower...
by Rowan Goeller | Mar 1, 2024 | Construction and Basic Materials
Key message: Nkomati should contribute substantially in 2H as the mine output ramps up. Transnet issues negatively impacted iron ore. Afrimat hosted a pre-close update for FY24 and we followed up with management. Iron Ore: Local iron ore sales to AMSA fell in 2H due...
by Rowan Goeller | Nov 21, 2023 | Construction and Basic Materials
Key message: Solid result in weak market, with increased distributions to shareholders expected going forward. PPC released 1H FY24 results, with revenue and EBITDA up 21% and 47% respectively. The EBITDA margin recovered well to 17.3% (from 14.3%) mainly due to a...
