Murray & Roberts to cut its exposure to civil construction

23 April 2014

A year after being fined for collusion on infrastructure projects, Murray & Roberts says it might be time for it to cut its exposure to civil construction.

CEO Henry Laas said the civil construction industry was difficult to operate in, with tight margins in the lower single digits, and a slow rollout of projects by the government, especially in the years after the 2010 soccer World Cup.

He said the company would like to expand its presence in oil and gas, mining, petrochemicals, power and water.

About 75% of the company’s revenues are generated overseas, mainly through its oil and gas business in Australia and from mining in the Americas.

The company want to evolve from being focused on construction to concentrating on engineering.

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