Salient features

Financial performance

During the year to 30 June 2014:

R53 billion
Increase of 2% from R51,7 billion
at June 2013 
Net operating earnings  
R784 million
Increase of 20% from R656 million
at June 2013 
Goodwill and related intangible assets  
Impaired by R831 million    
Earnings for the period  
R376 million loss
(2013: R459 million profit) 
Headline earnings
R421 million
Decrease of 10% from R466 million
at June 2013
Net finance expenses  
R183 million
Increased from R30 million
at June 2013  
Adjusted earnings per share (excluding impairments)   
120.3 cents
Decrease of 4% from June 2013  
Loss per share  
(101.9 cents)
Decrease from 124.6 cents earnings per
share at June 2013
Headline earnings per share  
112.5 cents
Decrease of 10% from June 2013  
Dividends per share  
No dividend was declared for the full year
and the prior year  
Net asset value per share  
Decrease of 2% from June 2013  
Two-year order book  
R40,9 billion
Increase of 9% from R37,4 billion
at June 2013  
Subsequent to 30 June 2014, the Group issued  
R2 billion
Unsecured senior convertible
bonds with a five-year tenure

Revenue by operating group


Two-year order book by operating group

  McConnell Dowell (ZAR)
  Aveng Grinaker-LTA
  Aveng Engineering
  Aveng Mining
  Aveng Manufacturing
  Aveng Steel

Two-year order book by sector
  General infrastructure
  Oil and gas