Shares in Bell Equipment, which makes and sells heavy machinery such as dump trucks and forklifts, jumped more than 8% on Thursday after it flagged a surge in earnings for its half-year to end-June.
This was a result of"improved market conditions," the group said in a brief update, with headline earnings per share expected to rise in a range of 61% to 67%. Bell, valued at about R1.7 billion on the JSE, generated about R201 million in headline earnings in the prior comparative period. It has recently been benefitting from robust demand for commodities, country-specific post-Covid-19 stimulus packages, and increased infrastructure spending in several markets which had driven demand for articulated dump trucks in particular.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
In March, however, when releasing its 2022 results it had said its order book was being maintained at record levels, with the group saying it was taking orders for 2024.In afternoon trade on Thursday its shares were up 7.5% to R17.74, and reached R18 after the announcement, putting it at levels last seen in early 2014. The shares have risen about 31% over the past year.In times of uncertainty you need journalism you can trust.