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Podcast: WorldWide Markets with Simon Brown
Episode: Is it over for construction stocks? (#515)
Description: Murray & Roberts (JSE code: MUR) horror update. "working capital requirements are especially acute" "financial results for the six months period ending 31 December 2022, to be at least 100% down" This is not South Africa at all, it's Australia and the US. We've seen Wilson Bayly (JSE code: WBO) walk away from their Australian operations. Low margins and bankers not keen on bonding projects are going to crunch this industry globally. I would suggest Aveng (JSE code: AEG) is not immune either. The only time this industry really made money was in...