by Rowan Goeller | Dec 9, 2020 | Construction and Basic Materials
Rights Offer Avoidance Key message: Apparent progress in the DRC debt restructuring and a boost to earnings from strong cement markets is reducing the probability of PPC having to raise cash to meet lender de-gearing requirements. PPC released 1H FY21 results. Revenue...
by Rowan Goeller | Nov 19, 2020 | Construction and Basic Materials
Bitter Pill Swallowed Key message: A significant loss in Australia clouds a reasonable performance in a weak market. WBHO released FY20 results. Revenue increased by 6% (down 12% in South Africa, up 14% in Australia and UK), but an operating loss of R541m was reported...
by Rowan Goeller | Nov 12, 2020 | Construction and Basic Materials
Booming Cement Sales Support Lender Discussions Key message: Strong cement sales in all regions are a welcome respite for PPC – and will help in the capital restructuring. PPC released a Trading Statement to October 2020.South Africa & Botswana: Cement sales...
by Rowan Goeller | Nov 10, 2020 | Construction and Basic Materials
SANRAL Returns Key message: Comfortably surviving the Covid-19 lockdowns, increased SANRAL activity bodes well for Raubex. A large building order book shows the growing diversity of the group. Raubex reported 1H FY21 results, with revenue and operating profit...
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...
