Still not a fan

Finweek English Edition - - MARKETPLACE SIMON SAYS -

The Esor trad­ing up­date shows HEPS to be at a loss of be­tween 22.96c and 25.84c. This is com­pared with a HEPS profit of 14.4c for the pre­vi­ous cor­re­spond­ing pe­riod. This loss is not re­lated to op­er­a­tional is­sues, but is rather due to write-downs, in­sur­ance claims and the im­pair­ment of good­will. The prob­lem is that these have a large im­pact on a strug­gling com­pany in a very tough space. I have not been a fan of con­struc­tion stocks for about a decade, sec­ond-tier smaller stocks even less so. The one ex­cep­tion would be Afrimat, which con­tin­ues to gen­er­ate prof­its.

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