Summit TV

Transcript:

We will put forward Aveng. That’s quite a different stock pick I’d imagine being in the building and construction sector. We are reasonably comfortable that economic growth is stable and improving in South Africa. Investors have thrown in the towel with building and construction and there’s concern post 2010 is there life after death? We think there is - infrastructure spend seems to be intact. They have a lot of cash on their balance sheet and they’re sitting on an attractive multiple so at around R34 we’d be comfortable buying Aveng.

Broker:
Andrew Newell, Cannon Asset Managers

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