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Group Five falls most in 8 months, profit halves

Jul 27 2015 15:39
Neo Khanyile


Company Data

AVENG LIMITED [JSE:AEG]

Last traded 0
Change 0
% Change -50
Cumulative volume 11571032
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

GROUP FIVE LIMITED [JSE:GRF]

Last traded 1
Change 0
% Change 20
Cumulative volume 2275
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

MURRAY & ROBERTS HOLDINGS LIMITED [JSE:MUR]

Last traded 11
Change 0
% Change 1
Cumulative volume 206741
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Group Five [JSE:GRF], South Africa’s worst-performing construction company this month, plunged the most since November 17 after saying fiscal full-year profit fell as much as 50%.

The shares slid 12% to R22.22 by 13:00 in Johannesburg, extending losses this month to 22%, the biggest decline on the seven-member FTSE/JSE Africa Construction & Building Materials Index.

Group Five is heading for a third day of losses, sending the 14-day relative strength index to 26, below the 30 level that signals it may have dropped too rapidly.

Earnings per share in the 12 months to June will be 40% to 50% lower, Johannesburg-based Group Five said in a statement on Monday, without giving more details before a full earnings report due August 17.

Builders including Aveng [JSE:AEG] and Murray & Roberts Holdings [JSE:MUR] have been hit in their home market by declining new orders as economic growth falters. Expansion slowed to 1.5% last year, the most lacklustre pace since the 2009 recession.

group five  |  construction  |  industrial
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