EARNINGS DECLINE
Settlement deal knocks Raubex
Company was found guilty of collusive behaviour during construction projects for 2010 World Cup, reported a 14% fall in its headline earnings
09 May 2017 - 07:04
Construction company Raubex reported a 14% fall in its headline earnings per share in the year to February, due to a voluntary settlement it made with SA’s competition authorities for anticompetitive behaviour. The Competition Tribunal found industry members guilty of collusive behaviour, mostly during construction projects for the 2010 World Cup. Raubex allocated R119.9m for the settlement to prevent potential damages claims. Seven big construction companies are part of the R1.5bn settlement.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.