Aveng gets lift Down Under as SA weighs it down

Construction, engineering and mining group Aveng has reported a more than halving of headline profits for its year to end-June, amid a robust performance in Australia but weighed down by its Africa-focused interests.

Headline earnings fell almost 60% to R308m, though revenue rose about 2% to R26.18bn, with the group taking a hit from heavy rains in SA, which affected its Trident Steel business and mining contractor Moolmans...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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