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VENTURES AFRICA – JSE-listed construction firm, Group Five, on Tuesday said it was expecting to post good profits for the six months ended December 2013.
Group Five said the good profits came as a result of management’s good corrective action in its Middle East business and the related construction materials division.
But the share price of Group Five, on Monday lost 4.11 percent on the JSE’s late trade. This was probably in keeping with the All Share Index which moved down 0.11 percent.
This was after the gold producers slipped almost 3 percent on the JSE, Africa’s biggest securities exchange.
Group Five said headline earnings a share for the interim period to December last year were expected to surge between 30-40 percent.
The company has operations in Southern Africa, West Africa, East Africa, Central Africa, Middle East and Eastern Europe.
The group claims to have the know-how of rapidly reassigning resources between countries of operation to meet clients’ needs and optimise opportunities where available.