Raubex reports 5.3% increase in H1 HEPS

Raubex reports a 5.3% increase in HEPS to 107c for the first half ending August 31.

Specialist construction group Raubex on Monday reported a 5.3% increase in headline earnings per share (HEPS) to 107c for the first half ending August 31.

The group’s main interests are in road construction‚ rehabilitation and road infrastructure‚ and also in supplying aggregates for the construction industry.

Revenue was up 4.3% to R3.89bn‚ while operating profit grew 9.5% to R329.3m.

The company declared an interim cash dividend of 36c per share‚ while its order book increased to R8.1bn‚ from R7.5bn previously.

Regarding its outlook the company said: “The medium-term budget policy statement presented to Parliament on October 21 proposed baseline increases to the Sanral (South African Roads Agency Limited) budget over the medium-term expenditure framework period to arrest deterioration of the national road network.”

The budget had also allocated more money to the secondary road network‚ the company said.

“These proposals are encouraging and should ensure that a healthy volume of road construction and rehabilitation work is available for tender in the medium term‚” Raubex said.