|
|
|
Thu 17 Apr 2014
Close: 34c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
|
|
|
|
Contract revenue for the year ended 31 August 2013 fell to R399.9 million (2012: R442.4 million). Gross profit decreased to R41.5 million (2012: R67.5 million), operating loss was recorded at R46 million (2012: profit of R15.8 million), while loss attributable to owners of the parent was at R36 million (2012: profit of R2.9 million). Furthermore, headline loss per share came in at 17.6cps (2012: headline earnings per share of 1.4cps).
Dividend
No dividend has been declared for the year in line with the group's undertaking of consolidation. It remains the group's policy to declare annual dividends going forward, cash flow permitting.
Prospects
B&W is progressing with its five-year strategic plan, which includes selective targeted projects with a minimum acceptable profit levels and payment behaviour. This strategy, marketing and sales efforts have produced a reasonable robust order book for 2014 despite challenging conditions and created a sound framework to build momentum into the future for sustained growth. Notably all new orders secured are at margins above the threshold set by B&W.
Notwithstanding continued challenging trading conditions as a result of a subdued economy, a sluggish mining industry, and uncertainty in the construction sector tender activity has increased. Given the prolonged downturn in the economy generally and the construction sector specifically, we have adopted a more cautious approach to 2014 and 2015.
Cross-border activity remains promising and the group has targeted selective countries to secure future long term work, but will continue to pursue opportunities on a project by project basis in other regions with our preferred clients. The group expects to even the South Africa: Africa split going forward. The targeted countries are Mozambique, Kenya, Namibia, Ghana, Tanzania, Botswana, Zambia and Uganda.B&W will seek a more normalised revenue split between sectors, thereby lowering the dependency on the mining sector. The revenue split for the year per sector was as follows: mining 59%, industrial 15%, oil & gas 11%, power generation 5%, earthing lightning and surge protection 10%. A more even split is expected in the next 12 to 18 months
|
| |
| Click here for Results In Brief |
| |
| Click here for Results Analysis |
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
|
|
