Cashbuild has said that the company's revenue for the last three months of the financial year was up by 35%

Building materials supplier Afrimat has bought Scottburgh quarries - a quarrying and block manufacturing business - for an undisclosed amount.

Construction Industry"The acquisition is in line with Afrimat's strategic objective of strengthening its presence in key metropolitan areas and in a region where significant growth is expected," the company said on Monday.

Scottburgh quarries comprise two commercial quarries in Scottburgh and Pietermaritzburg and block manufacturing plant in Scottburgh.

The acquisition is subject only to the fulfilment of certain administrative conditions. 

Afrimat, which debuted on the JSE in November last year, recently acquired quarries and sand mines business Malans Group for 125 million rand, entrenching the group's presence in the Western Cape.

 

 

Building materials supplier Iliad Africa has bought two businesses in the Eastern Cape and Limpopo as part of its strategy to enhance its geographical footprint in the building materials market, it said on Tuesday.

The financial details of the deals were not disclosed.

Construction Industry.USM Building Supplies, which is based in the Eastern Cape, adds trading outlets in Uitenhage and Jeffry's Bay and a truss plant in Dispatch, taking the Iliad network of outlets to 104.

It has an annual turnover of more than 100 million rand.

The acquisition is subject to approval of the competition authorities and the completion of the due diligence process. One-year profit warranties are in place, the company said.

Iliad has also bought Lumber City in Lephalale (formerly Ellisras) at net asset value.

The business will be rebranded Builders Market and existing management has been retained.

"This acquisition expands our presence in Limpopo, and positions Iliad well for the considerable capital projects planned in the region," said Ralph Patmore, chief executive officer of Iliad.

Patmore said these acquisitions would accelerate the group's stated intention of achieving turnover growth of 5 billion rand in the next few years.

Iliad is currently trading under a cautionary related to an unsolicited bid for the group's equity.

Interim results for the 2007 financial year will be announced towards the end of August.

 

Friday, 04 May 2007 02:00

Group Five buys Sky Sands

Construction IndustryListed construction business Group Five (GRF) has bought Sky Sands for 124 million rand as part of its expansion and growth strategy in the infrastructure sector, it said.

Sky Sands is involved in the supply of plaster and washed sands products to the building material merchants, the building industry and the precast concrete products industry.

Group Five said the purchase amount would be settled through its own resources.

 

Thursday, 19 April 2007 02:00

Slowdown dents building sector's confidence

The building confidence index has dropped by two points amid a general slowdown in construction activity, says First National Bank (FNB) chief economist Cees Bruggemans.

Construction IndustryThe bank's index declined marginally to 87 points this year from 89 points last year.

Bruggemans said the decline in business confidence was due to a moderation in all building industry categories, except quantity surveyors, where confidence increased by six index points.

Residential property development was taking a hard knock while commercial property was experiencing a boom.

However, the Bureau for Economic Research's latest survey found that business confidence of nonresidential building contractors had increased marginally from 93 index points last year to 94 points this year.

John Loos, property strategist with FNB Commercial Property Finance, said the high level of retail building activity was still taking place in "lagged" response to SA's consumer boom. Low vacancy rates were driving growth in industrial and office space property categories.

According to the Investment Property Databank, overall commercial property returns were still strong at 27,4%, which created the right climate for strong investment and growth.

While the overall profitability of building contractors had improved, shortages in skilled labour and building materials were affecting output.

Bruggemans said overall business confidence in the building industry remained comparatively high, with major industry players satisfied with conditions.

He said business confidence of residential building contractors was down from 89 to 84 points, because conditions in this sector had become less favourable compared with 2005 when growth was strong.

On the supply side, developers were increasingly encountering problems in getting municipal approval, and connection to water supply and sewage disposal, as a result of strained municipal infrastructure.

 

Monday, 11 December 2006 02:00

Just don't drop those bricks

Large projects are driving up share prices. But will they all be completed? The construction industry has spawned more listings this year than any other sector

Tuesday, 30 May 2006 02:00

Lafarge taps George construction boom

Global construction material producer Lafarge has firmed its foothold in the booming Garden Route construction market.

Tuesday, 24 January 2006 02:00

WG Wearne to list on AltX

SA is set to see the first listing in the construction sector in several years

Friday, 20 January 2006 02:00

Cashbuild revenue up 30%

Cashbuild has reported a 30% increase in its revenue for the second quarter of its financial year to end-December compared to that of the year-earlier period

Thursday, 24 November 2005 02:00

Dorbyl reports loss in earnings

Dorbyl has reported a 223.6 cents loss in headline earnings per share for the six months ended September 30 2005 from a 166.1 cents profit a year ago

Page 4 of 6

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