Construction and engineering group Wilson Bayly Holmes-Ovcon's (WBHO) share price on Tuesday slipped 2,39% despite its announcement it expected earnings for the year to June to increase as much as 50%.

WBHO is considered the construction industry's star performer, and the fall in the group's share price points to the market's lukewarm reception of the expected increase in earnings.

The company said on Tuesday that it expected earnings a share and headline earnings a share for the year to June to be between 30% and 50% higher compared with the corresponding period last year.

The group said the increase was due partly to a restatement at fair value of its investments in certain concessions. It did not give further details.

Warwick Lucas, an investment analyst at Imara SP Reid, said the 40% increase was within the market's expectations.

"As the darling of the industry, it was important the company performed in line with the market expectations," he said.

In the year to June last year, WBHO had a record year, with R4,76bn revenue and an order book of R4,2bn. Consolidation of Australian company Probuild's results contributed to the increase in revenue.

The group's results for the year are expected in the first week of September

WBHO traded 2,39% or 117c weaker at R47,80 on the JSE on Tuesday.

Just fewer than 57,000 shares changed hands in 45 deals.