by Rowan Goeller | Mar 3, 2022 | Construction and Basic Materials
Key message: The cost of exiting Australia is high, but the balance sheet is still strong enough to support the remaining businesses. WBHO released 1H FY22 results. The results were overshadowed by the exit from the Australian operations as cash requirements...
by Rowan Goeller | Feb 24, 2022 | Construction and Basic Materials
Key message: WBHO has indicated the end of financial assistance to WBHO Australia, with the impact of putting WBHO Australia into administration. We attempt to assess the cash impact to WBHO of the announcement. WBHO has determined that, with effect from 22 February...
by Rowan Goeller | Feb 16, 2022 | Construction and Basic Materials
Key message: Iron ore prices have recovered, and Nkomati mine is profitable. Acquisitions continue with the Glenover surface dump purchase. Afrimat continues to operate well and add new operations to its growing portfolio.Iron Ore: Low prices and lump premiums...
by Rowan Goeller | Feb 14, 2022 | Construction and Basic Materials
November, December 2021 Key message: November and December imports continued the relatively low levels from October at 81kt and 43kt respectively, well off September levels of 151kt. This is a more expected outcome following supply chain disruptions. November and...
by Rowan Goeller | Jan 17, 2022 | Construction and Basic Materials
Key message: Sales have slowed down (adjusted for looting impact) after the DIY boom post-Covid. This was well flagged. We update our Cashbuild numbers as we move into CY22.The 1Q operational update confirmed the expected decline in sales after the post-Covid lockdown...
