South Africa

Raubex divisions return to profitability

Raubex, one of the few companies to have been resilient in the decade-long slump in SA’s construction market, said on Tuesday that all three of its operating divisions have returned to profitability in the second half of its financial year, though this would not be enough to offset the poor performance in the first half, which was heavily affected by lockdown restrictions.

The company said in a trading update that its headline earnings per share for the year ended February are expected to drop  45%-65%, as a result of the lockdown measures, which were meant to control the spread of the Covid-19...

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