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• Create Date May 29, 2026
• Last Updated May 29, 2026

PPC and Stefanutti Lead Construction Sector Gains as Investor Sentiment Remains Selective (CRMS May 2026)

Investor sentiment towards South Africa's construction sector remained mixed during May 2026, with gains concentrated among a handful of companies rather than reflecting a broad-based industry recovery. Strong performances by PPC (+15.1% m/m) and Stefanutti Stocks (+6.5% m/m) supported market sentiment, indicating growing investor confidence in selected infrastructure and construction-related opportunities. However, weakness among other contractors and suppliers suggests that investors remain cautious about the pace of recovery across the wider sector.

Retail-related counters continued to underperform, with Cashbuild declining by 7.1% month-on-month, highlighting ongoing pressure on consumer-driven construction activity. Overall, the results suggest that while investors are beginning to identify pockets of growth within the construction value chain, confidence remains highly selective and further evidence of sustained project implementation and earnings growth will be required before a broader sector re-rating occurs.

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