JSE-listed Raubex Group continued to experience challenging conditions in the South African construction industry in the six months ended August 31, particularly in the road construction sector, reporting a 57.4% decline in operating profit to R157-million, compared with the R370-million profit recorded for the first half of the 2018 financial year.
The low volume of work during the period under review resulted in the group’s rightsizing of its asphalt and bitumen supply operations to adjust to the current level of demand.