by Rowan Goeller | Mar 11, 2024 | Construction and Basic Materials, Retail
Key message: We did some on the ground market research – until meaningful demand recovery occurs, margins are likely to stay low. Cashbuild released 1H FY24 results. Diluted HEPS declined 22% to 550c and a final dividend of 325c was declared. P&L goodwill and...
by Rowan Goeller | Mar 6, 2024 | Construction and Basic Materials
Key message: Back to the low risk contracting model, the order book outlook looks promising for a margin uplift. WBHO released 1H FY24 results. Overall revenue and operating profit increased by 29% and 30% respectively with the operating margin flat at 4.8% as lower...
by Rowan Goeller | Mar 1, 2024 | Construction and Basic Materials
Key message: Nkomati should contribute substantially in 2H as the mine output ramps up. Transnet issues negatively impacted iron ore. Afrimat hosted a pre-close update for FY24 and we followed up with management. Iron Ore: Local iron ore sales to AMSA fell in 2H due...
