The group says it has a number of government contracts which should help offset risks posed by the pandemic
Infrastructure and mining group Aveng, after seeing its share price falling more than 99% in three years, has pinned its hopes on contracts from governments seeking to revive economies hit by Covid-19 through stimulus packages.
The company said on Thursday that its Australian infrastructure contractor, McConnell Dowell, had an order book of A$1.9bn , representing growth of 47% since the end of December. “These projects will very likely form an integral part of the stimulus packages and recovery efforts that the respective governments will implement as they emerge from lockdown restrictions,” Aveng said.
It was too soon to assess the financial effects of the coronavirus, however, and liquidity and cash-flow management in the SA market remained a key risk to the group, Aveng said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aveng says it may benefit as states rolls out Covid-19 stimulusThe group says its geographic diversity, and that it has a number of government contracts, should help offset the risks posed by the pandemic
Read more »
COVID-19: Education unions unhappy with departmentMinister of Basic Education Angie Motshekga is expected to address the nation on the possible timeline for reopening schools.
Read more »
Philander’s Somerset deal falls victim to Covid-19Former Proteas seam bowler's English county contract is cancelled by mutual consent
Read more »
Covid-19 halts disciplinary proceedings against teachersThe Covid-19 pandemic has put a halt on the SA Council for Educators' (SACE) disciplinary procedures against teachers, but the council's CEO expressed her concern about 'very serious psycho-social issues' to Parliament.
Read more »
KZN economy tanks as unemployment soars during Covid-19The KwaZulu-Natal economy is expected to shrink by about 8%, while unemployment is expected to hit 27%, according to premier Sihle Zikalala.
Read more »
Pick n Pay commends ‘remarkable’ staff during Covid-19While in the UK, where the economy is tentatively opening up, property funds may be going cheap 🔒
Read more »