Murray & Roberts Group looks to its long term strategy

16 September 2014

Murray & Roberts Group reported revenue of US$3.2bn (June 2013: us$3.09bn) and attributable earnings of US$117.6m (June 2013: US$ 90.5m). Diluted earnings per share was 305 cents (rands) (June 2013: 245 Rand cents). Diluted continuing headline earnings per share was 205 cents (June 2013: 123 Rand cents), representing growth of 67%, compared to the last year. At 30 June 2014, the net cash position was R1,8 billion (June 2013: R4,3 billion), after the Group acquired the minority shareholding in Clough for R4,4 billion in December 2013. A full year dividend of 50 cents was declared.

Murray & Roberts Group’s order book reduced to R40,9 billion (June 2013: R46,1 billion). The reduction is primarily due to the run-off in Clough’s order book as the nature of its work is changing from longer term greenfields liquefied natural gas (“LNG”) projects to shorter term brownfields projects.

Henry Laas, Murray & Roberts Group Chief Executive comments: “Over the last three years, during which it delivered its Recovery & Growth strategy, the Group restored financial stability and returned to profitability, re-organised and re-energised the businesses and resumed the dividend payment. The Group is now proceeding with its longer term plan to build a New Strategic Future.”

“By 2020, Murray & Roberts aims to be a leading international diversified project engineering, procurement and construction group in selected natural resources market sectors. Specifically, we are targeting the oil and gas, mining, energy and industrial markets, where we are able to leverage our current capabilities,” concludes Laas.

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