Publications
Partners
Johannesburg – Construction group Raubex Group [JSE:RBX] (RBX) on Wednesday reported headline earnings per share up 11% to 323.8c for the year ended February 28 2010 from 291.7c previously.
The group recorded earnings per share of 325.6c from 289.2c earlier.
Raubex revenue was up 10.1% to R4.58bn, from R4.16bn in 2009.
Operating profit was at R887.2m, from R794.6m previously.
Raubex declared a final dividend of 75c per share.
Revenue for its Roadmac division decreased 3.4% to R1.98bn, from R2.05bn earlier. Operating profit declined by 5.9% to R405.4m.
The divisional margins decreased to 20.5%, from 21.1% in 2009 due to the increased competition experienced during the year, it said. Roadmac is a specialist in the manufacturing and laying of asphalt, chip and spray, surface dressing and slurry seals.
Raubex Construction revenue increased 44.8% to R1.59bn whilst operating profit increased 84.4% to R263.2m. The divisional margins increased to 16.6%, from 13% in 2009, Raubex said.
Internationally, revenue increased 57.6% to R507m with margins decreasing to 7% as a result of tough trading conditions experienced in Zambia, the group said.
Revenue for Raumix, the materials division remained flat at R1.02bn and operating profit decreased by 1% to R218.7m.
Francois Diedrechsen, financial and commercial director of Raubex Group, said: "The past year presented challenging trading conditions for the group but we are pleased with the overall performance and resulting growth in revenue and profitability.
"Our international expansion is progressing well with work currently underway in Namibia, Zambia and Malawi. Locally, a number of new contracts were secured in the past year as part of our efforts to secure the medium-term order book. In addition, we expect a number of tenders for large concession contracts to be issued in the year ahead," he said.
The group said that despite difficult trading conditions, it was able to grow both revenue and earnings whilst maintaining a secured order book of R4.7bn, from R5.2bn in 2009.
In the short-term, trading conditions in the industry will continue to be challenging with the impact of pressures on margins likely to become more evident in the 2011 financial year, the group said.
The long-term outlook remains positive with a number of concession contracts expected to come out for tender. These include the N1 N2 Winelands Project which is now out on tender as well as the N2 Wild Coast toll road and the second phase of the Gauteng Freeway Improvement Project which is expected to commence by the end of 2011," Raubex said.
- I-Net Bridge
The group recorded earnings per share of 325.6c from 289.2c earlier.
Raubex revenue was up 10.1% to R4.58bn, from R4.16bn in 2009.
Operating profit was at R887.2m, from R794.6m previously.
Raubex declared a final dividend of 75c per share.
Revenue for its Roadmac division decreased 3.4% to R1.98bn, from R2.05bn earlier. Operating profit declined by 5.9% to R405.4m.
The divisional margins decreased to 20.5%, from 21.1% in 2009 due to the increased competition experienced during the year, it said. Roadmac is a specialist in the manufacturing and laying of asphalt, chip and spray, surface dressing and slurry seals.
Raubex Construction revenue increased 44.8% to R1.59bn whilst operating profit increased 84.4% to R263.2m. The divisional margins increased to 16.6%, from 13% in 2009, Raubex said.
Internationally, revenue increased 57.6% to R507m with margins decreasing to 7% as a result of tough trading conditions experienced in Zambia, the group said.
Revenue for Raumix, the materials division remained flat at R1.02bn and operating profit decreased by 1% to R218.7m.
Francois Diedrechsen, financial and commercial director of Raubex Group, said: "The past year presented challenging trading conditions for the group but we are pleased with the overall performance and resulting growth in revenue and profitability.
"Our international expansion is progressing well with work currently underway in Namibia, Zambia and Malawi. Locally, a number of new contracts were secured in the past year as part of our efforts to secure the medium-term order book. In addition, we expect a number of tenders for large concession contracts to be issued in the year ahead," he said.
The group said that despite difficult trading conditions, it was able to grow both revenue and earnings whilst maintaining a secured order book of R4.7bn, from R5.2bn in 2009.
In the short-term, trading conditions in the industry will continue to be challenging with the impact of pressures on margins likely to become more evident in the 2011 financial year, the group said.
The long-term outlook remains positive with a number of concession contracts expected to come out for tender. These include the N1 N2 Winelands Project which is now out on tender as well as the N2 Wild Coast toll road and the second phase of the Gauteng Freeway Improvement Project which is expected to commence by the end of 2011," Raubex said.
- I-Net Bridge
