JSE-listed Raubex Group achieved a “robust” performance for the six months ended August 31, despite difficult macroeconomic conditions, owing to it being diversified and resilient, CEO Felicia Msiza says.
Raubex has declared a gross interim cash dividend from income reserves of 63c apiece for the period.
“In the results for the financial year ended February 28, we informed the market that the robust performance of the group had been largely attributable to the successful completion of the flagship Beitbridge border post project, the full-year contribution from Bauba Resources and the solid performance of the Western Australian operations.
“It is thus pleasing that, notwithstanding the extremely challenging market conditions and without the contribution from the Beitbridge border post project, the group delivered a satisfactory performance during these six months, increasing earnings through its diversified operations,” outlines Msiza.
For the period, revenue increased by 14.5% to R8.45-billion from R7.38-billion in the first half of 2023.
Operating profit increased by 14.2% to R628.4-million, while headline earnings a share increased by 19.4% to 189.8c and earnings a share by 19.3% to 193c.
Cash generated from operations increased by 23.6% to R728.3-million, while net asset value was R6.05-billion, compared with R5.80-billion in the prior comparable period.
Capital expenditure for the period was R997.4-million.
The group’s order book stood at R20.29-billion as at August 31.
“The resilience of the Raubex team and our robust strategy will ensure the sustainability of the group over the medium to long term. Our balance sheet and the cash generated from operations remain healthy, which will further allow us to secure meaningful tenders going forward,” Msiza highlights.