Aveng has grim outlook for the economy

Monday 30th October, 2000
Aveng MD, Carl Grim, said that he was not optimistic about a revival in the domestic economy and the construction industry for 2000. His opinion was that the construction industry was stagnating and the economy had not picked up as fast as he had hoped. This expectation is in contradiction to Aveng's forecasts which are on target to achieve better than real earnings growth for 30 Jun 01. The Aveng purchase of LTA is however expected to significantly enhance earnings growth. Aveng is identifying the best possible way of incorporating LTA into Aveng and creating a unified construction front between Grinaker and LTA.