CAPE TOWN – Raubex appears to be on the mend following last year’s plunge in earnings.
The diversified infrastructure and construction materials supply group said in a trading statement yesterday that it expected earnings per share to rise between 70 and 90 percent in the six months to August 31.
Headline earnings per share (Heps) were expected to be 60 to 80 percent higher, between 60.7 and 67.8 cents per share, compared with the corresponding period last year.
The earnings growth is a turnaround. In the year to February 28, Heps fell 75.1 percent to 57c, and the final dividend was cut to 22c from 33c a share.
During that year, a dearth of infrastructure investment by the government led to a lack of work on road projects, and there was community unrest on some of its sites.