Listed construction company Group Five on Monday announced another year of "excellent" growth as it released its results for the year ended 30 June.

While power problems at Eskom and interest rates had a negative effect on both private sector building and housing segment markets, the company had "successfully hedged our exposure to this through our ability to transfer skills to the public sector infrastructure market and redirected housing market strategy".

Fully diluted earnings per share increased by 58 percent from R2.40 to R3.79 and fully diluted headline earnings per share increased by 71 percent from R2.33 to R3.98.

Group revenue rose by 16 percent from R7689-million to R8900-million, "showing a pleasing acceleration in the rate of trading in the second half".

Operating profit before fair value adjustments increased by 62 percent from R392-million to R636-million.

The most significant highlight of the year's result was that the group exceeded its short term group operating profit margin goal of five percent by recording a margin of 7.1 percent (compared to 5.1 percent in 2007).

"Going forward we will continue to focus on improving group margins, having set targets of seven to nine percent over the next two to three years," Group Five said.

Sapa