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Sep 03, 2008

WBHO’s building division eyes international expansion

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Construction and engineering firm WBHO's building division was investigating opportunities beyond South Africa's borders, its new CEO said on Wednesday.

Louwtjie Nel, who was appointed as CEO in July, said that the building division was studying prospects in the United Arab Emirates, Mauritius and Zambia.

Meanwhile, WBHO nonexecutive director Savannah Maziya said that the group as a whole was targeting international work, public sector contracts and mining projects for further growth.

In the public sector, the company aimed to participate in a number of large projects over the next few years, including work for the South African National Roads Agency, the Department of Water Affairs, Transnet, Transnet Port Terminals, the Airports Company South Africa and Nuclear 1, among others.

It was also hoping to participate in petrochemicals giant Sasol's expansion projects.

On Monday, when the group announced its full-year results, WBHO said it was well positioned to participate in the energy, infrastructure and mining sectors in the year ahead.

"We believe we are well placed to produce another year of real growth while maintaining our profit margins. However, it is unlikely that we will achieve the same rate of growth as accomplished this financial year," WBHO chairperson Mike Wylie commented in a statement to shareholders.

On Monday, the contractor reported a 34% increase in turnover to R10,9-billion for the year ended June 30, 2008, compared with R8,1-billion in 2007. It also increased its order book to R18,3-billion, as at July 1, 2008, compared with R10,6-billion as at July 1, 2007.


Edited by: Mariaan Webb
Creamer Media Senior Researcher and Deputy Editor Online
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