Executive Directors, Prescribed Officers and the Company Secretary have been granted rights (off market) to participate in the Company’s share incentive plan as follows: Performance share awards, which are subject to performance conditions and vest after three years.
Shareholders are advised that Macquarie is hosting a CEO Infrastructure Conference on Wednesday, 29 November 2017 at which the Company’s management will be submitting a presentation. The presentation will be made available on the Company’s website at www.wbho.co.za.
The financial information on which this presentation is based, has not been reviewed by the external auditors.
29 November 2017
The group delivered a positive set of results in a year where market sentiment in Australia was upbeat while locally, the year was characterised by low-growth, a volatile rand exchange rate and political events which impacted South African business confidence.
Shareholders are referred to the market update published on SENS of the JSE Limited on 23 June 2017.
In the period to 30 June 2017, WBHO has recognised the full value of the group’s socio-economic contribution arising from the Settlement Agreement signed with the Government of South Africa on 11 October 2016, along with the corresponding financial liability.
As a result, the directors of Wilson Bayly Holmes-Ovcon Ltd hereby advise shareholders that, in respect of the consolidated financial results for the year ended 30 June 2017, earnings per share and headline earnings per share are expected to vary by the percentages and amounts included in the table below:-
Building and civil engineering:
The Building division commenced FY17 with a strong order book and has executed projects effectively
throughout the year. As was reported in the latest interim results, local building markets are showing signs of
tapering, particularly within the retail and commercial office sectors. Additionally various high value projects
have either reached completion or are nearing completion which together with a lower order intake is
reflected in the 14% decrease in the overall building and civil engineering order book at 30 April 2017.
While the Civil engineering division has struggled with a low order intake for some time, the award of the
commercial crude oil terminal at Saldanha, to be executed in conjunction with the Roads and earthworks
division, has alleviated some pressure.
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Revenue from continuing operations amounting to R15,4 billion was in line with the revenue achieved in the comparative period. Revenue growth from the group’s Building division offset lower revenue derived from the Civil engineering and Roads and earthworks divisions. The growth in revenue from the local Building divisions together with a heavier weighting of local work within the Roads and earthworks division resulted in an increase of 16% in revenue derived from South Africa. The lack of mining activity in the rest of Africa continues to impact revenue streams from the region which decreased by 42% over the comparative period. Australian revenue in rands
remained largely flat.
In the six month period to 31 December 2016, WBHO has recognised the full value of the group’s socio-economic contribution arising from the Settlement Agreement signed with the Government of South Africa on 11 October 2016, along with the corresponding financial liability.