Raubex posts strong interim results
JSE-listed Raubex Group has posted a significant 1 907% increase year-on-year in operating profit to R435-million for the six months ended August 31.
This compares with the R21.7-million in operating profit generated in the six months ended August 31, 2020.
The company declared an interim dividend of 47c apiece, on the back of earnings a share having increased by 657% to 140c, compared with a loss a share of 25.2c in the prior corresponding period, and a prior interim dividend of 24c apiece.
Raubex also managed to increase its order book to R16.55-billion at the end of August, from R11.74-billion at the end of August last year.
CEO Rudolf Fourie says all three of the company’s divisions delivered a solid performance in the six months under review.
“"The group has now also successfully established a sustainable and diversified revenue stream from operations in Australia, which are performing well.
"The upgrade of the Beitbridge Border Post, the group's biggest project to date, achieved its first milestone on time with quality execution.
"Government's commitment to infrastructure spend and the high levels of tender activity is also encouraging,” he explains.
Raubex’s Materials division enjoyed strong demand for aggregates during the reporting period, while the Roads and Earthworks division saw volumes driven by asphalt and bitumen supply operations.
The Infrastructure division reported a strong performance from commercial building and housing operations, particularly in Western Australia.
Fourie concludes that the current secured order book and strong management team, supported by a healthy balance sheet, position the group well to take advantage of the high level of tender activity in the market.
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