Finweek English Edition - - INVESTMENT -

BUY Bro­ker­age Imara SP Reid has up­dated its rec­om­men­da­tion on the con­struc­tion group. This fol­lows the re­lease of f inan­cial re­sults show­ing that rev­enue rose 28.2% to R4.9bn while op­er­at­ing profit dropped 50.5% to R89m. An­a­lyst Si­bonginkosi Nyanga con­cludes: “Be­sides com­pet­i­tive pres­sures, the SA con­struc­tion in­dus­try is also un­der the mi­cro­scope of com­pe­ti­tion au­thor­i­ties for long-run­ning anti-com­pet­i­tive ten­den­cies. This could re­sult in penal­ties and fines. The con­struc­tion in­dus­try’s short-term prospects re­main clouded.”

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