CONSTRUCTION SECTOR
WBHO earns more revenue in Australia
Construction group WBHO generated more revenue in Australia in the six months to December, where international investors are launching new projects, unlike in SA, CEO Louwtjie Nel said on Tuesday. WBHO grew revenue 17.3% to R18.1bn during the period, boosted by revenue from its Australian division which increased 28.7% to R11bn. “The contribution to group revenue from Australia has increased from 56% to 61%, with SA and the rest of Africa contributing 31% and 8% respectively, compared with 38% and 6% in the comparative period,” Nel said in the results statement. WBHO and its competitors, Aveng and Murray & Roberts were drawing most of their revenue from work in Australia. Nel said he was hoping private and international money would soon enter the local market. This would help SA’s construction sector in the short to medium term, while, in the long term, the sector needed increased spending by the government. When the country’s state-owned enterprises (SOEs) begin to function better,...
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