WBHO slashes dividend amid Australian road woes
The construction group’s operating profit has fallen as it battles the underestimated costs of a road project
03 September 2019 - 11:55
Wilson Bayly Holmes-Ovcon (WBHO), the largest remaining construction firm listed on the JSE, slashed its dividend by 60% to 190c in the year to end-June, as it battles cost overruns at a roads project in Australia.
Revenue rose 16% to R41bn, but operating profit fell 56% to R561m, with the company saying solid performances in its African and UK operations were overshadowed by Australia...
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