Now free of noncore headaches, Aveng shifts its centre of gravity to Australia

Infrastructure, construction and engineering group Aveng said on Tuesday it is now free of noncore assets for the first time since 2017, allowing it to shift its full attention to improving margins, and diversifying away from SA.

The company, valued at about R1 billion on the JSE, reported that revenue grew about 40% to A$1.5 billion (R18.6 billion) in its six months to end-December, with headline earnings rising by almost three quarters to A$11.3 million (R137 million). It also reported its cash on hand climbed almost 30% over the six months, while it has secured 100% of its targeted revenue for 2024, and almost two-thirds of 2025's.