by Rowan Goeller | Apr 22, 2020 | Construction and Basic Materials
Key message: There is a relatively high probability that government will use SANRAL to kickstart infrastructure spending as a stimulus for the economy. Long overdue, this would boost the road construction sector. Raubex has issued updated guidance for FY20 earnings,...
by Rowan Goeller | Apr 22, 2020 | Construction and Basic Materials
Key message: We initiate on Cashbuild with an Overweight recommendation. With hardware stores open again (only for tradespeople), the Covid impact will cause only a short-term earnings impact, in our opinion. We initiate on Cashbuild with an Overweight recommendation...
by Rowan Goeller | Mar 13, 2020 | Construction and Basic Materials
Key message: We examine the ability of PPC to withstand current weak markets and do some scenario analysis around debt covenants. We conclude PPC still has a robust Southern African operation able to withstand even weaker markets before covenants are tested. Cement...
by Rowan Goeller | Mar 10, 2020 | Construction and Basic Materials
Raubex Trading Statement for FY20 Key message: Road work continues to be at very low levels, but recent tenders from SANRAL seem to indicate the potential for a significant boost in a relatively uncompetitive environment. Raubex released a Trading Statement for FY20....
by Rowan Goeller | Mar 5, 2020 | Construction and Basic Materials
Australia Again!! Key message: The challenges of operating a construction company remotely are again apparent. WBHO failed one of the three Golden Rules of Construction – avoid new geographies, new disciplines and only use the A-team. The Infrastructure business (a...
