Johannesburg - Construction and engineering group Aveng
[JSE:AEG] says it anticipates that earnings per share and headline earnings per
share for the year ended June 2012 will be between 50% and 60% lower than the
comparative period’s 302.9 cents and 306.4 cents respectively.
The group's operating segments reflected either steady or
improved financial performances compared with the comparative period‚ other
than for Construction and Engineering: South Africa which incurred a
substantial loss‚ it said.
Encouraging progress was made on previously reported problem
contracts in both the Australian and South African construction businesses.
Further additional provisions to de-risk some new loss-making construction
contracts were considered necessary‚ it said.
The company is due to release its results on September 5.
Aveng shares fell 3.10% to R34.64 on Wednesday morning.