Audited annual results


Unaudited Interim Results

For the six months ended 31 August 2015


  • Group Financial Highlights

  • The Period in Review

  • Financial Review

  • Divisional Review

  • Order Book

  • Acquisitions

  • Major Projects Progress

  • Conclusion


    • Revenues up 4,3% to R3,89bn (H1 2015: R3,73bn)


  • Operating profit up 9,5% to R329,3m (H1 2015: R300,8m)


  • Group operating profit margin of 8,5% (H1 2015: 8,1%)


    • HEPS up 5,3% to 107,0 cps (H1 2015: 101,6 cps)


  • Cash flow from operations down 30,2% to R375,0m (H1 2015: R537,4m)


    • Capex spend of R278,5m (H1 2015: R273,8m)


  • Order book of R8,2bn (H1 2015: R7,5bn)


  • Interim dividend of 36 cents per share declared


  • Consistent results under challenging conditions

    • Bitumen supply affected by unplanned refinery shutdowns


  • Strong results from the Materials Division

    • Positive contributions from acquisitions; all bedded down well


  • Roads Division executing well; better quality order book

    • Focus on selective tendering to further improve order book quality


  • Slow start for Infrastructure Division

    • Timing of solar project work


  • Zambia contracts; adopted a cautious approach to execution

    • Operationally sound


    • Currency depreciation in September

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