Construction group Wilson Bayly Holmes Ovcon (WBHO) on Tuesday reported lower revenue and operating profit for the six months to end-December, while keeping its interim dividend unchanged.
Revenue from continuing operations fell 4% to R14bn from R14.7bn a year earlier. Operating profit decreased 3% to R676m. Headline earnings per share from total operations rose to 1,086c from 1,072c.
Activity in South Africa was supported by roadworks and renewable energy projects, along with continued strength in the Western Cape building market. Elsewhere in Africa, the group executed mining infrastructure contracts in West Africa and Zambia, and road and gas infrastructure projects in Mozambique. The group said its UK arm performed acceptably in a weak economic environment.
Net asset value increased to R5.8bn from R5.6bn at the end of June 2025. The order book stood at R36.4bn, 3% lower than the R37.6bn reported six months earlier.
The board declared an interim dividend of 300c per share, unchanged from the prior year.
In December 2025 WBHO was named preferred contractor for the proposed R8bn Cape Winelands Airport development near Cape Town. The project is scheduled to enter detailed design and planning during 2026, with construction expected to follow thereafter.
The award adds to a pipeline that is increasingly tied to public infrastructure spending, including transport, energy and water projects.
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