Sephaku reports lower interim profit as building projects slow down
The cement and ready mixed concrete producer hit out at the unrestricted import of cement from abroad
Building and construction materials group Sephaku Holdings (SepHold) has been hit from all sides as it felt the slowdown in local infrastructure spending, poor economic growth hurting the disposable income of consumers and the unrestricted imports of cement into SA.
“Infrastructure development is subdued, with the exception of public-sector roadworks and private-sector renewable energy projects — the latter are not cement intensive. Higher interest rates and low investor confidence have dampened growth in the residential-building market,” the company, valued at about R254m on the JSE, said in its results for the six months to end-September...
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