by Rowan Goeller | Oct 30, 2020 | Construction and Basic Materials
Key message: Two new acquisitions – and the cashflow from Demaneng will likely cover the acquisition costs within 2 years. Afrimat announced FY21 interim results, with HEPS up 1.1% to 183.9c off a 9.4% decrease in revenue and 11.0% increase in operating profit.Bulk...
by Rowan Goeller | Oct 28, 2020 | Construction and Basic Materials
Key message: Losses increase in Australia by an extra R200m to R1.2bn, but at least through a settlement that caps project costs. WBHO released a further Trading Statement covering the Covid-19 impact and completion of the Western Roads Upgrade in Australia.Further...
by Rowan Goeller | Oct 12, 2020 | Construction and Basic Materials
The Adults are Back in the Room Key message: Competent management is back in the saddle, after years of weak strategic and financial oversight. While the balance sheet is still strained and the cement market only in the early stages of a recovery, PPC at least has a...
by Rowan Goeller | Oct 2, 2020 | Construction and Basic Materials
Key message: Evidence of PPC correcting management and corporate governance lapses are growing. Strong cement markets could significantly plug financial holes. PPC has delayed its FY20 results again as additional financial errors have been found. PPC is repairing the...
by Rowan Goeller | Sep 2, 2020 | Construction and Basic Materials, Industrials
Key message: Solid results with strong cash generation notwithstanding the COVID impact. Strong sales growth post YE is providing FY21 with a good start – but pent-up demand levels (and supply disruptions) are distorting the real underlying demand levels. Cashbuild...
by Rowan Goeller | Aug 27, 2020 | Construction and Basic Materials
Key message: The cement market has been very strong post-lockdown as blenders and imported volumes have declined. Sephaku Holdings recently released FY20 results.Sephaku CementSephaku Cement had their full annual shutdown in March before the lockdowns occurred – and...
