adminrevenue from continuing operations increased by 15,9 percent to R5,1 billion mainly as a result of increased activity in all of the group’s construction businesses and the engineering and construction cluster. Cash position improved by R372 million to R2,6 billion. The South African market conditions nonetheless were tough for the company.
Commenting on the results, Group Five CEO Mike Upton said his company was encouraged by the improvement in the contracting order book, with a good cash position supporting the company’s growth prospects.
“The corrective action we took last year set the base for an improved performance, with all businesses underlying performance outside of buildings in line with guidance provided in November.
“Markets remained tough, with the group continuing to implement the conservative approach previously adopted in terms of both the quality of the order book secured and our philosophy towards cash preservation to fund activity which will support future profit growth,” he said. – CAJ News.
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