by Rowan Goeller | Jul 14, 2023 | Construction and Basic Materials
Key message: Price increases look to catch up to cost inflation in FY24, with steady dividends expected from Zimbabwe and Rwanda. PPC released FY23 results, with revenue up by 0.2% but the EBITDA margin fell to 13.7% (from 15.1%). A R200m distribution (share buyback)...
by Rowan Goeller | Jun 15, 2023 | Construction and Basic Materials
Key message: The Beit Bridge project completion leaves a large hole in profits – significant revenue growth is required to replace this. Raubex recently reported FY23 results. HEPS increased 32% on a 32% and 35% increase in revenue and operating profit. A final...
by Rowan Goeller | May 22, 2023 | Construction and Basic Materials
Key message: Consistent volume growth remains the key value driver, and diversification reduces iron ore exposure. Afrimat released FY23 results, with HEPS declining 15% to 458c on a 5% increase in revenue and 13% decrease in operating profit. Lower iron ore prices...
by Rowan Goeller | May 22, 2023 | Construction and Basic Materials, Uncategorized
Key message: Relatively steady state earnings are expected for future years off a well-developed pipeline. Calgro released FY23 results. HEPS increased 43% to 153c on a 15% increase in revenue. The gross profit margin remained in the target range of 20-25% at 23.5%....
