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THE SMART NEWS SOURCE | Feb 11 2012 02:10 | LAST UPDATED Feb 11 2012 02:10 |
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Aveng, Africa's largest construction company by market value, said on Wednesday its two year-order book rose by 8% to R32,7-billion despite construction projects related to 2010 World Cup coming to an end. The South African-based group, which has completed building the Soccer City stadium that will host this year's World Cup final, said headline earnings per share for the six months to end-December dropped to 163,4 cents compared with 244,4 cents in the previous period. The company said its revenue fell 5% to R16,8-billion and its identified total project pipeline amounts to about R102-billion. Aveng sees second-half revenue improving marginally compared with the first half. Rival Murray & Roberts last month posted a 34% drop in half-year profit as the World Cup boom played itself out, and WBHO gave a cautious outlook for the next two years after it reported a 19% rise in first-half profit. Group Five earlier this month reported an 8,3% increase in first-half profit and said it was well positioned to weather tough short-term conditions and to take advantage of any upturn. -- Reuters  CONTINUES BELOW TOPICS IN THIS ARTICLE
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