Aveng experiencing difficult trading conditions
Construction and engineering group Aveng continues to experience difficult trading conditions in line with general economic conditions of the group’s key markets of South Africa and Australia, Aveng group chairperson Angus Band told shareholders on Tuesday.
He said, in a continuation of the trends evidenced in the previous financial year, the South African market continued to be challenging owing to low levels of infrastructure-related spend and the impact of lower mining activities and labour disruptions, while trading conditions in Australia remained difficult with general social and infrastructure-related spend not yet compensating for reduced mining infrastructure spend.
“Despite these market challenges, the mining and manufacturing businesses, yet again, delivered solid performances, while the execution of the recovery and stabilisation plan continued to progress well,” Band noted.
By: Leandi Kolver