Turnover in the local construction sector contracted by 9.8 percent y-y (nominal terms) in the 1st quarter of 2022 to R72.4bn. Smaller enterprises bucked the trend as their combined turnover nearly doubled compared to the same period last year. Profit margins were weaker, with larger enterprises reporting the largest overall loss for the first time since the 2nd quarter of 2017. Expenditure on hire / leasing of plant equipment fell by 16 percent y-y, while the closing value of work in progress and total employment costs were also lower. Source: Stats SA. For a more in-dept review of the latest financial performance for large, medium and small enterprises in the construction sector please contact our offices.
