South African building materials group Iliad Africa has reported a 149% growth in profit for the first half of 2004, thanks to a full contribution from its acquisition of Corpbuild and an upswing in demand.
The company’s turnover rose from R379.2m to R993.9m and trading profit grew to R76.1m.
Iliad is also preparing to buy D&A Timbers as part of an expansion along the coast from KwaZulu-Natal to Cape Town. D&A would add about £75m to Iliad’s turnover.
