Wilson Bayly Holmes Ovcon , the largest remaining construction firm on the JSE, has warned of a R1bn profit hit after Covid-19 disrupted projects and spooked its clients.
The pandemic has resulted in lengthy project delays as activity either reduced or ceased entirely, WBHO said in an update, further warning that its order book is weak, and a resurgence of the pandemic in Australia and the UK has further hit productivity.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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