Adrian Macartney News Today

But has no immediate plans to list in Australia, despite changing its reporting currency from rand to Australian dollar.

Shares surge more than 13% after group reports profitable earnings for the fifth time in a row.

‘Weve a very, very strong order book across Australia and New Zealand,’ says CFO Adrian Macartney – but South Africa need not feel entirely left behind.

Shareholders in recently turned-around stock Aveng were rattled by recent results, but management says they are reading in more bad news than they should, and the picture is intact. The shareholders, however, are not convinced.

Group is profitable, cash-generative and has good growth opportunities - Aveng CEO Sean Flanagan.

It’s a pure technical accounting issue, and it’s getting in the way of another good six months’ performance – CEO.

Construction survivor Aveng posted a worse-than-expected earnings guidance, which caused its share price to dive 17% in a single trading day.

Spooked by the mistaken idea that the company has hit the skids, some Aveng investors have cashed in and taken off.

Spike linked to groups share consolidation.