BUSINESS DAY TV: ‘We will not abandon government but we need to diversify’
Wikus Lategan is the MD of Calgro M3. BUSINESS DAY TV: Calgro M3 has posted subdued results today with interim earnings for the six months ending August coming in pretty flat, while combined revenue decreased by 9.9% to R922.7m the company has reported headline earnings per share (HEPS) of 65.13c, that’s 1.7% lower than for the first half of 2015. Wikus Lategan, MD of Calgro, joins us now in the News Leader studio with more of the detail behind the numbers. Wikus, so it’s the slowdown in government’s infrastructure spend specifically coupled with community unrest at some of your projects that have hit your numbers this time around. What’s the extent of the slowdown in spend that you’re seeing right now? WIKUS LATEGAN: We also have to be careful where government spend is slowing down and Calgro’s risk averse and just restructuring the business to have a bigger private sector spend being alongside that. Yes, government spend slowdown could probably have been expected pre the local ele...
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