South African construction and engineering firm Group Five boosted half-year headline earnings per share by 41%, and predicted more growth as it benefits from a construction boom.
The company said headline EPS from continuing operations rose to R1,74 from R1,23 in the six months to end December and reported a healthy performance across all four of its segments, except manufacturing.
Group Five, whose construction business has soared as South Africa prepares to host the 2010 Soccer World Cup, said this sector had contributed 77,9% of revenue and 57,5% of operating profit.
The group, which is building a stadium to host the global soccer tournament, said the total secured order book is R5,1-billion, with 97% local.
The one-year secured order book to 30 June 2008 is R2,8-billion, including 94% local.
Headline EPS is the most important profit measure in South Africa and excludes out certain one-off, capital and non-trading items. – Reuters