Group Five Limited provided group restructuring update. Engineering & Construction has now been split into construction South Africa, Construction Rest of Africa and engineer, procure and construct sector businesses. These changes will result in more focused businesses with appropriate resources and cost bases relevant to the regions and service offerings provided. The main objective of these changes is to right size the business in line with the current market conditions. The group will continue to support and grow its annuity and cash-generating clusters of Investments & Concessions and Manufacturing. The strategic equity partnership with Aberdeen Infrastructure Funds, currently being implemented in the Investments & Concessions cluster and announced on the 5th of December 2016, is progressing well with only a number of outstanding regulatory conditions to be met.

The South African and Rest of Africa Construction businesses will be led by the Executive Director of Construction, Mark Humphreys, who has been with the group for 29 years. He has fulfilled the role of Chief Operations Officer for the Engineering & Construction cluster for the last two years. Peter de Vries, who has been with the group for 11 years and has significance experience in EPC contracting, will lead the EPC /sector-driven business. He will report directly to the acting CEO. This business will focus on Infrastructure, Energy, Plant and Process and Smart Cities /Town Development, all areas the group has significant experience in.