In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 ("the Act"), and section 3.83(b) of the JSE Listing Requirements, shareholders are advised that Wilson Bayly Holmes-Ovcon Limited has received formal notification that Old Mutual, have, acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by Old Mutual now amounts to 15% of the total issued ordinary shares of the Company.
Download the full announcement
Silo 3 is the latest of five “Silo” buildings to be completed by WBHO in the Silo District Development of the V&A Waterfront in Cape Town. All five buildings surround the Grain Silo Royal Portfolio Hotel and Zeitz Mocca Museum, which form the focal point of the development. The project began on 5 October 2015 and was completed in April 2017. Upon completion the building had to achieve a 4-Star Green Rating, which had a significant impact on the project’s design specifications.
Silo 3 is a residential development consisting of 79 luxury apartments (of which 5 are penthouse apartments), spread across 3 blocks of 8, 10 and 12 levels. The fact that work had to be conducted simultaneously in each of the three blocks was one of the chief challenges faced on this job. The apartments range from 1-bedroom flats to a 5-bedroom double story penthouse.
The development represents the finest quality residential space in the V&A, with the vast majority of the apartments finding buyers well before completion. The building is a combination of structural steel and concrete, and has a façade made up of aluminium shop fronts and plastered brickwork. External areas, passages and lobbies exhibit off shutter concrete, exposed services and mild steel which are characteristics of the silo district, and in keeping with the theme of a working harbour development. The internal finishes of the apartments showcase some of the latest trends in interior design. Floating timber floors, plush carpets, Italian tiles (with underfloor heating) reinforce the feeling of luxury to the apartment in themselves. All apartments are equipped with air conditioning, and premium and penthouse apartments with programmable lighting. The views from each of the floors are breath-taking, whether it is Signal Hill, Lions Head, the harbour and bay, or Table Mountain.
Greenblat and Hutton
VALUE AT COMPLETION
Steelpoort Limpopo Province
July 2011 – April 2014
VALUE AT COMPLETION
R 120 Million
Alrode – Johannnesburg
Civil works for expansion of the existing fuel depot
February 2010 to March 2014
VALUE AT COMPLETION
5 000 Tonnes Silo and Infrastructure.
May 2013 to May 2014.
Abland (Pty) Ltd
VALUE AT COMPLETION
Construction of new office block for Abland Property Group.
Office block consists of 7 parking levels (1 underground) and 6 above ground.
7 levels of offices are for Redefine and Virgin Active.
Facades are 70 % glass and vertical transport consists of 2 main lift cores of 3 lifts each and 1 glass scenic lift.
14 July 2014
22 October 2015
WBHO Projects Moçambique Limitada won 2 awards during the 2014 PMR Africa Awards in Moçambique which included “Best Construction Company” and “company doing most to develop and enhance infrastructure”.
The survey was done through a random national sample comprising of CEO’s, MD’s, business owners, company directors, managers and government officials based in Moçambique.
The company currently employs 842 Mozambican residents and contributed an astonishing ZAR 690 Million to the WBHO group turnover in the 2014 financial year. It is such an honour to recieve the award for the best in Moçambique, congratulations to the whole team in Moçambique and all who made this possible.
Despite challenging conditions within certain sectors, the group’s construction divisions have delivered a credible performance. However, the poor performance from the pipe factory in Mozambique, Capital Star Steel (CSS), has been of great concern and significantly affected the overall financial performance of the group. Reference to discontinued operations includes the trading results for CSS, Symo Steel and Krost (Pty) Ltd and the equity accounted income from Dywidag-Systems International (Pty) Ltd (DSI).
Revenue from continuing operations increased by 8,4% during the year, however, approximately 3,2% relates to the full consolidation of Capital Africa Steel from 1 July 2013. Following strong growth of 24% in FY13, the Building and civil engineering division achieved moderate growth of 7,2% in the current year in what remains a buoyant private sector building market. The Roads and earthworks division has performed well to achieve revenue which is only marginally down (1,4% decrease) from the prior year, given the effect of very little activity in the mining sector both locally and in Africa.
Revenue from the Australian businesses was essentially static in dollar terms (2,4% decrease) and this was primarily due to start-up delays on certain projects in the second half of the year. In rand terms, revenue increased by 2,4% after the effects of currency conversions. Revenue from continuing operations within the construction materials division amounted to R1,3 billion and relates to the rebar, ready-mix and aggregate businesses.
Operating profit from continuing operations before non-trading items increased by 10,2% to R1 billion at a margin of 4,0% compared to R939 million at 3,9% in FY13. Improvement in building margins in the second half of the year were unfortunately offset by declining margins in the Civil engineering and Roads and earthworks divisions due to the lack of work from the mining sector and strong competition in the road sector. The Australian construction margin returned to the 2,0% level in the current year. Margins in the materials businesses have been under severe pressure in the second half particularly in the rebar market and this is reflected in the disappointing margin achieved of 1,1%.