Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

(DATA)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

GlobalData : Construction in MENA region face double whammy due to Covid-19 outbreak and oil price collapse, says GlobalData

share with twitter share with LinkedIn share with facebook
share via e-mail
05/22/2020 | 03:07am EDT
22 May 2020
Construction in MENA region face double whammy due to Covid-19 outbreak and oil price collapse, says GlobalData
Posted in Construction

The revised and further-cut construction output growth forecast for Middle East and North Africa (MENA) region for the year 2020 is -1.1%, down from the previous projection of -0.8% (as of mid-April) and 4.6% (Q4 2019 update) due to the soaring COVID-19 cases in the region, and the subsequent curfews and lockdown measures, according to GlobalData, a leading data and analytics company.

Yasmine Ghozzi, Economist at GlobalData, says: 'The slump in oil prices will dent the sector's growth. GlobalData expects cutbacks in spending and, in particular, cuts to capital spending on infrastructure, especially for oil and gas dependent countries given that investment plans were set on assumptions for oil at US$50-US$80 per barrel. The IMF currently predicts that GDP growth in the MENA region will fall to - 3.3% in 2020 because of its exposure to lower oil prices and the extensive disruption in travel and tourism.'

Governments across the MENA region offered direct support to boost activity in construction and infrastructure. In the case of Egypt, for example, the government guided construction companies operating in public projects are set to resume work in full capacity by early April, following a period of two weeks of reduced business.

For Saudi Arabia, the biggest construction market in the region, the country's finance minister announced plans to make deep cuts to public spending, so any further stimulus to the construction sector would rely on the amount of reserves the government is willing to draw upon, given the limit that lower oil prices have put on government revenues.

It remains to be seen whether governments in the region will lend direct support to companies facing acute financial pressure in the sector.

Ghozzi concludes: 'In addition, construction, real estate, and oil and gas sectors are among the most exposed to the business risks created by COVID-19. Force majeure clauses in contracts are being more widely used by firms needing to scale back or rearrange their business plans amid the pandemic. The issue came under the spotlight when the Iraqi government announced the pandemic as an event of force majeure for all projects and contracts. Although construction sites are generally exempted from the lockdowns imposed in many countries in the MENA region, there is an expectation that legal claims, especially from contractors, will be filed citing the crisis as a justifiable reason for failure to deliver work on time.'

Disclaimer

GlobalData plc published this content on 22 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2020 07:06:16 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on GLOBALDATA PLC
06/05GLOBALDATA : France will aid its aerospace industry to preserve its export compe..
AQ
06/05GLOBALDATA : Lasting effects of COVID-19 will force Airbus to take more producti..
AQ
06/05GLOBALDATA : ITC strengthens FMCG portfolio with NimWash Vegetable and Fruit was..
PU
06/04GLOBALDATA : E-commerce sales in Singapore to accelerate further due to COVID-19..
PU
06/04GLOBALDATA : Construction projects schedules are getting delayed due to COVID-19..
PU
06/03GLOBALDATA : reveals top 10 electric vehicles influencers on Twitter in Q1 2020
PU
06/02GLOBALDATA : New ICAO guidelines could keep wide-body aircrafts grounded in post..
AQ
06/02Embraer will need state help to survive COVID-19 crisis, says GlobalData
AQ
06/02GLOBALDATA : As Europe's auto industry re-opens for business, May markets exceed..
PU
06/02GLOBALDATA : ITC and Amway India collaborate to create health halo as COVID-19 c..
PU
More news
Financials
Sales 2020 186 M 236 M 236 M
Net income 2020 23,0 M 29,1 M 29,1 M
Net Debt 2020 35,1 M 44,4 M 44,4 M
P/E ratio 2020 80,6x
Yield 2020 1,17%
Capitalization 1 711 M 2 176 M 2 167 M
EV / Sales 2019
EV / Sales 2020 9,37x
Nbr of Employees 3 355
Free-Float 26,0%
Chart GLOBALDATA PLC
Duration : Period :
GlobalData Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLOBALDATA PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 1 200,00 GBp
Last Close Price 1 450,00 GBp
Spread / Highest target -17,2%
Spread / Average Target -17,2%
Spread / Lowest Target -17,2%
EPS Revisions
Managers
NameTitle
Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLOBALDATA PLC12.40%2 176
S&P GLOBAL INC.22.09%80 309
RELX PLC0.21%46 742
THOMSON REUTERS CORPORATION1.43%35 290
EQUIFAX INC.26.01%21 486
WOLTERS KLUWER4.21%20 291