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JOHANNESBURG (Reuters) - Africa's No.3 biggest construction group WBHO posted a 27 percent rise in full-year headline earnings per share and said on Monday it plans to continue seeking expansion opportunities in the continent and in the United Arab Emirates.
Wilson Bayly Holmes-Ovcon, which is constructing 3 stadiums for the 2010 World Cup, said full-year headline EPS rose to 1.610.8 cents per share, above its own forecasts of a 15-25 percent rise.
Headline EPS is the key profit measure for South African companies, and excludes non-trading, capital and certain extraordinary items.
Construction continues to be the best-performing sector in South Africa, bolstered by a government infrastructure spending programme and preparations for next year's World Cup.
WBHO, which also operates in several other African states and in Australia, said its net profit increased 26 percent to 963 million rand.
The group said its order book at the start of 2010 stood at 15.3 billion rand and revenue rose 37 percent to 14.7 billion rand.
WBHO declared a final dividend of 200 cents per share.
WBHO's rivals, Africa's biggest construction company Murray & Roberts and Group Five, have also posted strong full-year profits.
Africa's second biggest construction company Aveng last month revised its own forecast for full year headline earnings per share to 9.14 percent lower. Aveng is due to publish its annual results on Wednesday.
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