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...
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...
