In December this leading supplier of building materials announced a ninth successive year of earnings growth, a period that partly predates the property and construction boom. Off a high base, earnings per share rose 24% and turnover was up 25% to R3,4bn.
Prospects are good, given strong cash flows, potential expansion through acquisition and the strength of the balance sheet. Growth in commercial building offset a slowdown in the residential sector. The only cloud is rising product costs.
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