The group has put its Australian division, almost half of its revenue, into business rescue, suffering hefty writedowns as a result
Construction group Wilson Bayley-Holmes Ovcon has reported a loss representing almost a third of its R5bn market value for its half year to end-December, with the group still struggling with both Covid-19 disruptions and the fallout of its Australian unit’s collapse.
Group revenue decreased by 22% to R16bn in the six months to end-December, with WBHO reporting a R1.5bn loss, from profit of R43m previously...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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