Raubex resilient in the face of Covid-19 impacts
The six-month period to August 31 had proven the resilience of JSE-listed Raubex Group, CEO Rudolf Fourie said on November 9.
Reporting on the group's results for the six months, he said that, despite the decrease in earnings for the period, as a result of the Covid-19-related lockdown, strict working capital management resulted in strong cash generation that exceeded the group's expectations.
The group noted that the South African construction industry’s challenges were exacerbated by the pandemic, and, while this remains fluid and unpredictable, it is optimistic about its future prospects over the medium term.
"We are encouraged by recent contract awards and look forward to participating in the South African government's plan to stimulate the economy through infrastructure spend,” he added.
Revenue for the period under review decreased by 10.5% year-on-year to R3.94-billion, while operating profit decreased by 90% to R21.7-million.
The group attributed this mainly to the Covid-19-related lockdown which impacted on operations in various jurisdictions.
Headline earnings a share decreased by 145.4% to a headline loss a share of 26.6c and earnings a share by 139% to a loss a share of 25.2c.
Cash generated from operations increased by 72.4% to R715-million.
Net asset value increased to R4.51-billion and capital expenditure to R167-million.
The group’s order book increased to R11.74-billion.
Raubex declared an interim dividend of 24c.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation