Brikor is a building material manufacturer, notably bricks, and coal company.
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Brikor, the Gauteng-based manufacturer and supplier of building, construction, and mining materials, said its directors have proposed a scheme of arrangement to buy all of the shares in the company, after which the company will be delisted.
Brikor’s shares jumped 7.14% to 15 cents per share on Wednesday afternoon. A year before, the share traded at 14 cents.
In August 2024, a proposed scheme of arrangement was deferred until the issues relating to the Brikor Share Incentive Scheme Trust were resolved. Shareholders had since approved the repurchase of the shares from the Trust during 2025, and these shares have been cancelled, the company said in a statement Wednesday.
In the six months to August 31, 2025, the company’s revenue fell to R169.9m from R224.5m at the same time a year before. The loss before earnings from its associate came to R15.3m versus a profit before earnings from associate of R5.6 million at the same time a year before. The group reported a loss for the period of R14.2m.
The loss was primarily attributable to the decrease in revenue of R54.6m, reflecting adverse market conditions, weaker demand, and lower coal production volumes during the period.
Strategic focus areas for the year ahead included expanding production capacity within the Bricks segment, ensuring the sustainable management of mineable reserves, and leveraging newly secured off-take agreements to restore profitability in the Coal segment.
Brikor was first listed on the JSE on August 7, 2007. Investors have previously raised concerns about market concentration brought on by the rate of delistings and the slow rate of new listings on the JSE. University of Cape Town research showed this year that 514 companies have left the JSE since 1989.
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