Johannesburg - Construction firm Aveng [JSE:AEG] said on Wednesday full-year earnings fell by as much as 10%, hit by weak demand from the strike-battered mining industry, and its shares dropped more than 4%.
Aveng, which builds roads, football stadiums and mining shafts, is the latest company to feel the impact of a debilitating five-month stoppage in the platinum industry that ended last week.
The firm is also likely to take a further hit after more than 220 000 engineering and metal workers launched a wage strike this week, a dispute that is expected to cost the economy more than R300m a day.
Aveng, South Africa's second-largest builder by market value, said in a statement headline earnings per share for the year to end-June fell by as much as 10%.
Including one-time items, Aveng said its earnings fell to a full-year loss due to an accounting write-down.
Shares in the builder fell more than 4%, to R22.61 22.51 at Wednesday's close.
Aveng, which builds roads, football stadiums and mining shafts, is the latest company to feel the impact of a debilitating five-month stoppage in the platinum industry that ended last week.
The firm is also likely to take a further hit after more than 220 000 engineering and metal workers launched a wage strike this week, a dispute that is expected to cost the economy more than R300m a day.
Aveng, South Africa's second-largest builder by market value, said in a statement headline earnings per share for the year to end-June fell by as much as 10%.
Including one-time items, Aveng said its earnings fell to a full-year loss due to an accounting write-down.
Shares in the builder fell more than 4%, to R22.61 22.51 at Wednesday's close.