SA construction sector overshadows resilient performance at other group operations
A delayed webcast recording of the presentation will be available at 12:00 on 15 March 2013.
AVENG GROUP INTERIM RESULTS TO DECEMBER 2012: Performance underpinned by a well balanced portfolio, geographical diversity and multi-disciplinary capabilities
Revenue up 30%.
While most of our business units delivered improved results, a number of problem contracts in Australia and South Africa, combined with the continued challenging construction market in South Africa, negatively impacted our headlines earnings which are down by 58%.
Since 2008 the South African government’s public infrastructure spend has decreased significantly.
The Aveng Group continues to improve Skills Development and Training. Since 2009 Aveng has donated over R7 Million to the Community Building Project - Addressing Government Priorities of Skills Training and Job Creation.
The Aveng Group today, announced the appointment of Dr Rob Adam to bolster its leadership within the burgeoning power sector. Having identified the power value chain as a strategic area for growth, leading infrastructure group, Aveng is well positioned to capitalise on the global demand for power. This includes new capabilities in more environmentally-friendly renewable solutions such as wind energy, as well as alternative solutions such as geothermal and nuclear power.
MacDow is pleased to announce that the Adelaide Desalination Plant Project has reached the important milestone of the successful operation of the first 50GL plant for a continuous 24 hour period.
Click here to view the proposed amendments to the BEE transaction
The Aveng Group announces full year results to end June 2011
Commenting on the results, Roger Jardine, CEO of the Aveng Group said, “These results are a reflection of the group’s resilience considering the numerous challenges faced by the industry. The South African construction and infrastructure environment has slowed significantly, particularly in the public sector. But our geographic diversity, robust balance sheet and strong order book growth have positioned us well to deal with the downturn in the industry.”
Aveng Trident Steel, a subsidiary of leading infrastructure group Aveng, today unveiled its new blanking press line at its Port Elizabeth premises. The 630 ton Servo Press Blanking line, which was manufactured by Shuler of Gemminen in Germany, will allow Aveng Trident Steel to press curved, trapezoidal or straight-edge blanks cost effectively for the motor manufacturing industry.