the g spot
Raubex climbs out of the hole
For the first time in its 45-year history, Raubex’s roads division made a loss last year, thanks in large part to the government’s Covid lockdowns. But there’s been a huge jump in new work, and the company’s order book, in its financial year to end-February, had swelled 70% to R17bn. The group has also stuck with its dividends, paying investors 29c a share for the year, despite a 49.4% drop in headline earnings, to 81.9c a share. The FM spoke to CEO Rudolf Fourie.
Margins in the roads division were shockingly skinny — 0.3%. That’s on a knife edge...