Protech Khuthele earnings seen 35-40% lower

Protech Khuthele Holdings advised that its headline earnings per share and earnings per share for the six months ended August 2011 would decline by between 35% - 40% and 50%- 55%.

Construction group Protech Khuthele Holdings advised on Wednesday that its headline earnings per share and earnings per share for the six months ended August 2011 would decline by between 35% - 40% and 50%- 55%, respectively from those reported for the previous corresponding period

The company said the difficult trading conditions could largely be attributed to the delay in capital projects in the mining sector and extremely competitive market conditions across the entire construction sector.

Despite challenging market conditions, Protech maintains a realistic pipeline of work in excess of R1.5 billion.

The group's results for the six months ended August 2011 are expected to be published on or about 14 November .

At 13:20 on the JSE, the company's share price was steady at 63 cents per share.