KZN firm’s AltX listing

2008-07-17 00:00

A Hillcrest-based black empowered civil engineering and construction group, Sanyati Holdings, yesterday moved to the JSE’s Main Board, two years after listing on JSE AltX.

The move, coming in its 20th year of operation, is aimed at positioning Sanyati alongside comparable first- and second-tier construction groups.

CEO Rick Jackson said the initial intention was to list on the JSE Main Board once turnover had exceeded R1,5 billion, but Sanyati almost trebled turnover year on year to R1 billion by February 2008, ahead of revised projections.

He said the group is well on track to achieve forecast turnover by February 2009 of R1,8 billion.

“We believe the move to the JSE Main Board will ensure penetration of the top-tier construction sector, for which the group is well positioned …

“The construction industry in southern Africa is buoyed by unabating spend on infrastructure investment. Sanyati is positioned to share in government’s approximately R590 billion investment to roll out over the next five years as well as private sector investment.”

The group’s order book stands at R2 billion, of which 70% is attributable to the year to February 2009.

Sanyati is involved in a number of major civil engineering projects, including the King Shaka International airport in KZN, the 2010 Soccer World Cup Bloemfontein stadium, an Eskom power supply contract in Braamhoek, the Gautrain and several major roads.

It is also set to capitalise on escalating spend on telecommunications infrastructure through the recent Meyker Group acquisition.

Certain high-value contracts being negotiated will help to achieve the R400 million to make the February 2008 turnover target, the company said.

The R600 million balance already in hand will roll over into the year ending February 2010.

Jackson is confident that moving to the JSE Main Board will raise Sanyati’s profile and ensure comparison with similar civil engineering and construction groups.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.