Still not a fan
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.