http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.76Change: 0.11
R/$ = 10.96Change: 0.10
Au 1193.42 $/ozChange: 4.09
Pt 1213.50 $/ozChange: 10.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Nov 04, 2008

Sanyati boosts interim profit 83%, doubles revenue

Back
Construction|Engineering|Africa|Civils|Eskom|GEM Earthworks|Meyker|Road|Roads|Ruthcon Civil Contractors|Sanyati Holdings|South African National Roads Agency Limited|Africa|South Africa|Zambia|Eastern Cape|Infrastructure|Rick Jackson|Koss R-200 Consumer Headphones|Eastern Cape
Construction|Engineering|Africa|Civils|Eskom|Road|Roads||Africa|Zambia||Infrastructure|||
construction|engineering|africa-company|civils|eskom|gem-earthworks|meyker|road|roads|ruthcon-civil-contractors|sanyati-holdings|south-african-national-roads-agency-limited|africa|south-africa|zambia|eastern-cape|infrastructure|rick-jackson|koss-r-200-consumer-headphones|eastern-cape-province-or-state
© Reuse this Civil engineering and construction firm Sanyati Holdings, which recently moved to the main board of the JSE, boosted interim profit by 83% to R41,8-million, the company reported on Tuesday.

Headline earnings a share rose by 50,8% to 13,18c in the six-month period that ended August 31.

The black-empowered Sanyati more than doubled revenue to R809-million, on the back of strategic acquisitions and geographical expansion, and reported that it was “well on track” to achieve forecast revenue of R1,8-billion for the 2008/9 financial year.

The company has an order book of R2,1-billion.

CEO Rick Jackson attributed the performance to a successful expansion strategy.

The previous year’s acquisitions of Ruthcon Civil Contractors, GEM Earthworks and the Meyker group were fully consolidated in Sanyati’s results for the first time in the interim period. The acquisitions covered Gauteng, Mpumalanga, the Northern and Eastern Cape and the Free State.

“Our geographical footprint now spans all nine provinces in South Africa increasing our exposure to government-led infrastructure development,” he said in a statement. The group also operates in Zambia.

Jackson said he was confident about growth opportunities in the industry going forward. “Despite the global financial crisis local committed infrastructure spend should drive ongoing growth in the civils and construction industry.”

He pointed out that, while municipal spend had slowed, Eskom and the South African National Roads Agency Limited (Sanral) were on track with their spend commitments.

Sanyati is a 15% partner in the consortium that won a R1,9-billion Sanral contract for the upgrade of the Gauteng freeways. It also secured a R200-million contract for the upgrade of the road between Brandfort and Vetriver.

He was unfazed by the impact on Sanyati of the rand’s recent devaluation as the only ex-South Africa contract, in Zambia, was rand-denominated. However, Jackson cautioned that Sanyati would watch carefully its capital expenditure on plant purchase and renewal in light of the rand’s weak performance at present.


Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
A month before it plans to list on the main board of the JSE, property group, the Pivotal Fund has posted a net asset value per share excluding deferred tax (NAVPS) for the six months ended August 31, of R15.55 – a 5.9% increase on the NAVPS at the end of the...
Steel among the five resource value-chains being prioritised
The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National...
Construction company Group Five says its strategy is strongly focused on expansion in Africa, with selected projects in Russia and Northern America also possibly on the horizon. Outgoing CEO Mike Upton says the South African construction industry saw what appears to...
More
 
 
Latest News
Industrialisation remains a major part of the South African developmental agenda and an important vehicle towards achieving the Department of Trade and Industry’s (DTI’s) target of creating 100 black industrialists in the next five years, Trade and Industry...
The construction of a new innovation hub in the heart of the Dube TradePort, in Durban, was set to kick off in March 2016, as Dube TradePort Corporation sealed a R160-million lease agreement with Eureka Capital. Eureka Capital planned to develop a seven-storey 21 500...
South Africa will become the first African country to host the Organisation for Economic Cooperation and Development’s (OECD’s) Steel Committee Conference when the committee’s seventy-seventh session takes place in Cape Town between December 11 and 12. The...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
JSE-listed real estate investment trust (REIT) Rebosis Property Fund achieved a distribution growth of 8.1% to 99.45c per linked unit in the financial year ended August 31, despite volatile market conditions.
JAMES ROBERTS The MOM incubator was designed to help babies in developing nations who were dying in conflict-struck nations or who do not receive hospital care
A low-cost, inflatable incubator won this year’s international James Dyson design award, which aims to encourage and inspire the next generation of design engineers.
The World Bank released its ‘Doing Business 2015: Going Beyond Efficiency’ report last month and ranked South Africa 43 out of 189 global economies for its ease of doing business, with Singapore topping the rankings.
Air Products South Africa officially launched its R300-million Eastern Cape air- separation unit (ASU), at its new manufacturing facility in the Coega Industrial Development Zone (IDZ), earlier this month. It is the second facility that Air Products launched in South...
BMW South Africa (SA) has signed a power purchasing agreement with energy company Bio2Watt. The offtake partnership will bring renewable energy to the carmaker’s Rosslyn plant, north of Pretoria.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks