Marc Hasenfuss Editor-at-large

Anyone else feeling really despondent about the market? I certainly am getting there. A few weeks ago, when I was feeling relatively chipper, I attended the AGM of construction materials specialist Mazor. CEO Ronnie Mazor was disarmingly downbeat around prospects for the broader building and construction sector — even resorting to some colourful language to hammer home the point. Noting a penchant for buying back shares, I thought Mazor might be trying to talk down his share price. But watching several construction companies slide into business rescue, and others — including former heavyweight Aveng — looking as brittle as a stale rusk, I think (in retrospect) Mazor’s dire assessment was spot on. Even the share price of perennially profitable building supplies specialist Afrimat — with its track record of value-adding acquisitions — has come off markedly in the past few weeks. With "well-priced" opportunities to further consolidate the broader building supplies sector, you would thi...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now