This translated into headline earnings per share of 72 cents compared with 23.3 cents at the halfway mark last year. Revenue for the half year was up from R585-million to almost R734-million.

Describing the overall performance as satisfactory, Concor said the performance in its roads and engineering divisions were, however, below target.

But it said it had achieved its key short-term objectives to improve the , balance sheet and working capital, close out the property division and introduce management control and information systems.

The group, which was recently awarded the R1.5-billion Ngqura Harbour contract at Coega near Port Elizabeth in a joint venture with Hochtief and empowerment partners, said work on hand amounted to about R1.1-billion and opportunities in the construction and mining sectors were promising, creating growth opportunities for the group.

Work on the Ngqura Harbour project started in September and the site establishment is almost complete.

'Production on the bulk earthworks has exceeded expectations so far and the concrete and marine works will commence within the next few weeks,' it said.

Projects completed by Concor during the period under review included the R400-million Johannesburg International Airport terminal contract.

Work has also begun on the Ushaka Waterfront contract in Durban, while the R2.7-billion N4 Platinum Toll Road is ahead of schedule.

The group has, however, downsized its operations in Mozambique due to difficult trading conditions.