Raubex well positioned to take advantage of high levels of tender activity

Raubex Group Limited has released its unaudited interim results for the six months ended August 2021, declaring a gross interim cash dividend from income reserves of 47 cents per share.

The group reported an increase of 52% in revenue to R5.99 billion when compared to the first half of 2021’s R3.94 billion with its operating profit having increased to R435.2 million (H1 2021: R21.7 million).

Headline earnings per share increased by 615% to 137 cents per share (H1 2021: loss per share of 26.6 cents) with its earnings per share having increased by 657.9% to 140.6 cents per share (H1 2021: a loss per share of 25.2 cents).

Cash generated from operations during the reporting period decreased by 66.5% to R239.9 million (H1 2021: R715 million).

The group’s net asset value increased to R4.87 billion (H1 2021: R4.51 billion) with its capital expenditure increasing to R287.3 million (H1 2021: R167 million) with its order book increasing to R16.55 million (H1 2021: R11.74 billion) for the reporting period.

We are pleased to announce a strong set of results for the six months with a solid performance by all three divisions”, commented Raubex CEO, Rudolf Fourie. “The group has now also successfully established a sustainable and diversified revenue stream from operations in Australia, which are performing well”.

The upgrade of the Beitbridge Border Post, the group’s biggest project to date, achieved its first milestone on time with quality execution. Government’s commitment to infrastructure spend and the high level of tender activity is also encouraging. The current secured order book, strong management team, supported by a healthy balance sheet, positions the group well to take advantage of the high level of tender activity in the market”.