Bell reports strong H1 results, remains bullish on South African market

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JSE-listed Bell Equipment achieved a 6% year-on-year increase in revenue to R3.7-billion for the six months to June 30. Headline earnings a share increased by 10% to 131c and an interim dividend of 20c was declared.

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Hyprop ‘ahead of the market’ with total dividend of 756.5c a share for FY18

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JSE-listed real estate investment trust (Reit) Hyprop continued to deliver strong growth in a tough economic environment, with a total dividend a share of 756.5c declared for the financial year to June 30. This growth was 8.8% higher than in the prior financial year, the company said on Friday.

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NBF appoints acting CEO

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New Partnership for Africa’s Development Business Foundation (NBF) Africa infrastructure desk programme manager Peter Varndell will assume the role of acting CEO of the organisation, following Lynette Chen’s resignation in June.

NBF rail project manager Kudzanayi Bangure has assumed the role of NBF infrastructure desk programme manager.

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Waste gas fuels smelter

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A gas processing plant, built by backup and continuous power solutions provider Diesel Electric Services, in Boshoek near Rustenburg, has achieved over 45 000 lost-time injury-free hours in its first year of operation. The project –  which started in January 2016, and took about 16 months to complete – cost R130-million. It was negotiated with Diesel Electric Services, which supplied the full turnkey solutions, construction and infrastructure for the project.

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Radar Optiwave aids measurement

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Industrial instrumentation solutions manufacturer and supplier Khrohne says the use of radar has expanded into various sectors.

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Politics hamper African airlines’ growth potential

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The African airline sector has significant potential for growth, but it is not growing sufficiently because of various issues, such as stringent regulatory frameworks, says flag carrier airline Air Mauritius Southern Africa and Latin America regional GM Carla da Silva.

Government policies in African countries are playing a major role in undermining growth in the airline industry, with safety, security, terrorism, skills development and infrastructure further challenges that the African airline industry faces, she comments.

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M&R upbeat on prospects for mining unit amid commodity cycle ‘upturn’

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Engineering and construction group Murray & Roberts (M&R) is upbeat about prospects for its strong-performing underground mining unit, which was the biggest contributor to the group’s 2018 financial performance, as well as to the growth in the JSE-listed company’s R30-billion order book. The company reported a big rise in attributable earnings to R267-million for the year to June 30, up from R48-million, and also increased its dividend by 11% to 50c a share. Revenue rose a more modest 2% to R21.8-billion.

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Braamfontein student accommodation project halted as contractor faces liquidation

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Completion of the 17-storey Braamfontein South Point student accommodation project, in Jorissen street, will, most likely, be delayed by a year and only be ready in time for the start of the 2021 academic year, South Point CFO Johan Wheeler told Engineering News Online this week. Construction on the building, which will provide 1 200 beds for University of the Witswatersrand students, has been stopped as the main contractor Liviero Building is likely to be liquidated.

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Aveng’s early bond redemption terms finalised, shareholder approval pending

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JSE-listed construction group Aveng has finalised the terms of the early bond redemption, which is now subject to final shareholder and existing convertible bondholder approval.

Aveng will repurchase R657-million of existing convertible bonds, including accrued interest, for R460-million – 70% of par – from participating bondholders.

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M&R reports positive FY18 results

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Multinational engineering and construction group Murray & Roberts (M&R) on Wednesday reported a 56% year-on-year increase in diluted continuing headline earnings per share to 112c for the financial year ended June 30, compared with 72c in the prior financial year. R21,8 billion Revenue from continuing operations, increased by 2% (FY2017: R21,4 billion) – R267 million Attributable earnings increased by 456% (FY2017: R48 million)

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