by Rowan Goeller | Nov 21, 2023 | Construction and Basic Materials
Key message: Solid result in weak market, with increased distributions to shareholders expected going forward. PPC released 1H FY24 results, with revenue and EBITDA up 21% and 47% respectively. The EBITDA margin recovered well to 17.3% (from 14.3%) mainly due to a...
by Rowan Goeller | Nov 15, 2023 | Construction and Basic Materials
Key message: Diversity of earnings helps replace high-margin Beitbridge project. Raubex recently reported 1H FY24 results. HEPS increased 19% on a 15% and 14% increase in revenue and operating profit. An interim dividend of 63c (3x cover) was declared. Materials...
by Rowan Goeller | Oct 28, 2023 | Construction and Basic Materials
Afrimat – 1H FY24 Results Key message: Nkomati should contribute substantially in 2H with steady state achieved in Oct 2023. Afrimat released 1H FY24 results, with HEPS increasing 4% to 263.4c on a 10% increase in revenue and 4.3% increase in operating profit. Lower...
by Rowan Goeller | Oct 23, 2023 | Construction and Basic Materials
Key message: Relatively steady state earnings are expected for future years off a well-developed pipeline. Calgro released 1H FY24 results. HEPS increased 38% to 78.9c on a 14% increase in revenue. The gross profit margin remained in the target range of 20-25% at...
