Civil engineering and niche geotechnical group – Esorfranki - today announced weak results for the year to February 2011 that affirmed an extremely tough period for the group. Revenue fell 26,5% to R1,4 billion from R1,9 billion at the previous year-end and earnings dropped by 87% to R49,1 million. Esorfranki was hard-hit by the multiple challenges of a struggling construction sector, which were further exacerbated by unusually rainy weather and a number of exceptionally problematic contracts. Despite the adverse conditions the group proved its sustainability by ending the year

Esorfranki Rights Issue Circular

JSE civil engineering group and leading geotechnical specialist, Esorfranki, endured a tough six months to August 2010 (“the period”) that saw macro-economic factors depress all key financial indicators.  Despite the knock, the group has maintained a relatively healthy order book with R1,6 billion secured revenue in hand.