Aveng Limited, together with its subsidiaries, primary engages in the construction and engineering, mining, and steel business worldwide. The company operates through Construction and Engineering, Mining, and Manufacturing and Processing segments. It offers a range of integrated services that cover building, civil engineering, roads, earthworks, concrete, ground engineering, mechanical, piping, electrical, and instrumentation contracting. The company also operates as an engineering, construction, building, and maintenance contractor for the building, infrastructure, and resource markets focusing on building, rail, civil, electrical, marine, mechanical pipelines, fabrication, tunneling, and u...
1 Jurgens Street
Aveng Limited Provides Earnings Guidance for the Six Months Ending 31 December 2015
Dec 11 15
Aveng Limited provided earnings guidance for the six months ending 31 December 2015. The group anticipates reporting a headline loss, with HEPS reducing by at least 100% compared to 34.5 cents per share for 31 December 2014. The headline loss for the six months is expected to be no more than ZAR 300 million. This compared to a headline earnings of ZAR 138 million for the period ended 31 December 2014 and a headline loss of ZAR 716 million for the second six months ended 30 June 2015. The Group will update shareholders with a more precise range once the year end has closed.
Aveng Mulls Options
Dec 11 15
Aveng Limited (JSE:AEG) is evaluating strategic alternatives. The company stated, “The Board is concerned with the current market valuation of the Company which it feels does not reflect the intrinsic value of businesses within the Group as well as the upside potential resulting from the various performance improvement and restructuring initiatives that are underway. Despite the improvements produced by these initiatives, the Board is conscious of the poor market conditions for a number of the Group's key businesses and together with management are in the process of completing a strategic review to unlock shareholder value in a timely manner. Shareholders will be kept abreast as these initiatives come to fruition.”