Construction group Stefanutti Stocks should return to profitability in the next financial year, after one-off costs in the year to February put its earnings under pressure. A one-off present value charge of R139m related to a settlement agreement concluded with the government for anti-competitive behaviour and an impairment of R155m attributable to the goodwill of its subsidiary, Cycad Pipelines, affected Stefanutti negatively. It reported a loss per share of 72.88c from diluted earnings per share of 96.94c in the previous year. "We have been through a very difficult period. "However, our businesses, especially those in the building segment, are getting back on track and we should reach profitability overall as a group again in the next financial year," said CEO Willie Meyburgh. Mish-al Emeran, an equity analyst at Electus, said the settlement agreement made by seven construction companies, including Stefanutti, to put R1.5bn towards transformation in the sector over the next 12 yea...
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