Consolidated Infrastructure Group (CIG) posted double-digit growth in the year to August, with revenue shooting up 26% to R4.5bn and headline earnings per share jumping 16%. The recent R850m buyout of electricity and smart meter provider Conlog will further diversify revenue in future. "Inclusion in the CIG portfolio of [Conlog] is expected to boost group profitability over 30% in the year ahead," CEO Raoul Gamsu said on Wednesday. Profit after tax was up 18% at R392m despite an increase in group operating costs. The power, electricity and rail businesses all grew their order books. Hard currency revenue generated outside SA now accounted for 68% of CIG profit, compared with 54% a year ago. "Although total [African] infrastructure spend is under pressure, CIG have been successful in identifying areas in which they can develop a competitive advantage," Meyrick Barker, an investment analyst at Kagiso Asset Management, said. He said CIG had focused on developing specialist technical sk...
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