Infrastructure and resources group Aveng, which is at the tail-end of a far-reaching restructuring exercise that has already resulted in disposals collectively valued at R1-billion, reports that its two remaining core businesses – Moolmans and McConnell Dowell – are both operating profitably and are poised for top- and bottom-line growth. Moolmans, which undertakes contract mining activities in southern, central and west Africa, returned to profitability in the interim period to the end of December, reporting an operating profit of R117-million. The result represents a sharp turnaround from the R166-million loss reported in the corresponding period of the 2018 financial year.
