Building firms swim in revenue

CONSTRUCTION companies have boosted turnover despite funding constraints, thanks to South Africa's aggressive infrastructure drive.

CONSTRUCTION companies have boosted turnover despite funding constraints, thanks to South Africa's aggressive infrastructure drive.

Yesterday Buildworks announced it had increased revenue by 270percent to R745million. This was the result of acquiring 100percent of Consolidated Power Projects for R497,5million.

Buildworks chief executive Raoul Gamsu said: "The acquisition of Conco allowed Buildworks to deliver satisfactory results for the year ended August 31, 2009 in tough economic conditions.

"Cash generated by operations remained strong at R190million as working capital management improved across the group."

On Monday B&W Instrumentation, an electrical construction company, said it increased revenue by 11,7percent to R502,8million.

Chief executive Brian Harley said: "New projects were secured to take B&W's order book to R570million heading into the 2010 financial year." - Zweli Mokgata

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