Fitter order book returns ELB to profit
The group recently announced a strategic partnership for minerals and metals processing projects in sub-Saharan Africa with China ENFI
ELB Group says it has returned to profit across all segments in the six months ended December 2016, having put in a solid performance in a challenging economic environment. The engineering support business in the mining, minerals, power, port, construction and industrial sectors saw a strengthened order book after being awarded delayed projects. It operates mainly in Australasia and Africa. ELB recently announced a strategic partnership for minerals and metals processing projects in sub-Saharan Africa with China ENFI Engineering. China ENFI vice-president Wei Jiaming said the partnership gave the group better execution capability in Africa. ELB CEO Stephen Meijers said on Tuesday that despite political uncertainty, a volatile currency and improved but difficult trading conditions, the right-sizing and repositioning of the group in the previous financial year, together with some strengthening in certain commodity prices and a firming of its order book, had enabled ELB to return to pr...
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