Picture: ISTOCK
Picture: ISTOCK

Construction group Raubex said on Monday it was looking offshore for growth opportunities, which will cushion it from SA’s slowing economic growth.

CEO Rudolf Fourie said in a statement that the company was looking for acquisitions that would bolster its materials division, which accounted for half its profits.

Group pretax profit dropped 5% to R354.7m in the six months to end-August, as revenue dropped 2% to R4.67bn.

The order book decreased 8.2% to R7.52bn, with 28.8% of it representing contracts outside SA.

The order book from the South African National Roads Agency Limited (Sanral) was down 26.9% to R1.46bn.

However, headline earnings per share (HEPS) were up 0.4% to 131.1c and interim dividend was kept steady at 45c per share.