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Article: South Africa: Acquisitions to Bolster Buildmax.
- Article from:
- TendersInfo
- Article date:
- June 4, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BUILDMAX said on Friday it expected revenue to jump about 15 times, or a whopping 1400%, to USD 220 m (R1,7bn) th is financial year, as its recent acquisitions had positioned it well to take advantage of the high-growth mining activity, as well as billions of rands in infrastructure spending. The enlarged group projected its overall earnings to grow significantly, following two recent major acquisitions.
In results for the year to February, the group reported that revenue was almost unchanged at USD 14.4 m (R111,5m) compared with USD 14.5 m (R112,5 m) in the previous year. Attributable profit year on year was down slightly to USD 884,657.06 (R6,83m) from USD ...
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