The suggestion that CEs of construction companies should sign a contract to make them personally liable in cases of collusion has been slated by the industry as a step too far.

South African construction companies wait with baited breath for government to get a move on with its many promised infrastructure projects

Despite predictions that 2013 will restore some of the local construction sector’s profitability, the situation is as precarious as ever.

Headline earnings per share at Aveng plummeted by 34% to 70,6c in the six months to December, despite a revenue increase of 13,4% to R19,1bn.

Half-year earnings plummet despite healthy growth offshore, the poor state of the local construction sector dragging down the balance sheet

Construction companies hoping to cash in on government's R1-trillion infrastructure spending spree have been left sorely disappointed

Aveng advised that it anticipates that its earnings per share and headline earnings per share for the year ended June 2011 will be 30% to 40% lower than 480.3c and 483.6c of corresponding period.

The Competition Tribunal has confirmed the settlement agreement between the Competition Commission and Aveng after one of its subsidiaries was found guilty of cartel activity.

Infrastructure development company Aveng has pointed to a continued 'tough operating environment' in the local construction sector.

Fitch Ratings has affirmed South African Aveng Limited's National Long-term rating at 'A(zaf)'.