Industry News

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Local firm to support long term growth of AEG brand in SA

Local construction tools and fasteners distributor Upat aims to support the long-term growth of German company AEG’s power tools range in South Africa and Southern Africa by providing technical support services to and leveraging its partnerships with retailers, Upat MD Richard Kuhlmann says. The range that will be introduced to South Africa includes grinders, drills […]

Creecy concerned about lack of infrastructure spending

Gauteng Finance MEC Barbara Creecy on Thursday raised her concerns about the negative impact on the quality of public facilities and job creation caused by poor spending of infrastructure budgets by municipalities in the province. During a meeting with MMCs of Finance from all municipalities in Gauteng, Creecy said: “Unaudited figures for the end of […]

M&R expects more than 50% increase in FY18 earnings

Engineering and construction group Murray and Roberts (M&R) expects to report diluted headline earnings per share (HEPS) from continuing operations of between 110c and 114c for the financial year ended June 30. This represents a 53% to 58% improvement on diluted HEPS of 72c reported for the 2017 financial year. Powered by WPeMatico

Fortress builds on strong logistics portfolio, targets increased share distribution

Real estate investment trust Fortress has reported an increase of 4.53% to 141.8c apiece for its A-share distribution for the year ended June 30, while its B-share distribution increased by 4.07% to 179c apiece. Fortress is active in high-growth nodes that have prime logistic warehousing, retail centres and offshore properties, and now manages 308 direct […]

Creditors to vote on Basil Read business rescue plan in September

Since JSE-listed Basil Read announced its entering into business rescue in June, it has secured R265-million in funding and its business rescue practitioners (BRP) have, this week, published a business rescue plan. The company’s appointed BRPs – Siviwe Dongwana and John Lightfoot – believe the construction division of Basil Read can be successfully turned around, […]

Construction sector outlook promising following difficult 2017 – Bryte

The construction sector in South Africa faced an exceptionally challenging 2017, reaching 17-year lows; however, it remains one of the economic engines of the country. The construction sector holds immense potential for advancement of the country’s general financial wellbeing, says Bryte Insurance specialized property division national head Juan-Pierre Holmes. Powered by WPeMatico