Construction & Engineering news

Subscribe to industry newsletters

Press offices

Enquire about a press office
Bizcommunity has over 400 industry contributors and we always welcome further contributions and contributors.
Advertise with us
Advertise & RatesMy Account
Company press officeList company
Recruitment packagesSubmit job ad
Download ratecard
Construction & Engineering news

Stefanutti's earnings sharply lower

Construction group Stefanutti on Tuesday (13 November) reported a 62% drop in diluted headline earnings per share for the six months ended August 2012 to 25.07 cents from the previous year's 65.30 cents.
"This is mainly because of loss-making contracts‚ the ongoing volatility surrounding the global and local economies‚ and the delayed private and public infrastructure investment projects.

"This has negatively affected activity levels in the South African construction sector for a number of years now and has led to aggressive competition among contractors‚ as can be seen by low margin projects throughout the industry‚" Stefanutti said.

The group's revenue jumped 28% to R4.9bn in the same period from R3.8bn reported previously.

Stefanutti's order book increased to R9.4bn‚ a slightly higher than the R9.3bn recorded in May this year.

The group says the South African construction industry may improve in the medium term but warns that it is expected to remain under pressure for the foreseeable future.

"There are a number of medium size projects coming to the market and this helps to maintain the order book.

"However‚ larger projects such as the government's infrastructure investment and renewable energy programmes‚ the proposed development of the large natural gas deposits in Mozambique and the clean fuels project in South Africa are required to stimulate the construction sector‚" Stefanutti said.


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
    
 
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.

News