Group Five Ltd. saw its stock value surge to the highest amount in its 4.5 years of trading as a result of renewable energy.
The stock soared 9.3%, the highest in more than two years, with Johannesburg-based Macquarie First South Securities Peter Steyn telling Bloomberg: “The results are slightly better than expected.” The analyst said that the gains were from renewable energy projects and building in South Africa.
The company expects continued increases throughout the year as it expands in sub-Saharan Africa, according to CEO Mike Upton.
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