Murray & Roberts headline earnings 41% up
Murray & Roberts said the implementation of its “hub-and-spoke” strategy for Africa was progressing well. Representative offices had been established in West Africa since January 2013 and in Central Africa since October 2013.
Construction group Murray & Roberts Holdings on Thursday reported a 41% rise in diluted headline earnings per share (HEPS) from continuing operations to 62c for its six months ended December.
The results follow mixed updates from the group’s competitors‚ with Aveng saying last week it expects to report a 20%-25% fall in HEPS for the same interim period.
Murray & Roberts reported that its revenue from continuing operations improved to R19bn from R16.3bn in the prior interim period‚ while attributable earnings improved to R724m from R262m.
The group said it had maintained a “robust” order book of R44.9bn‚ down from R48.3bn a year earlier.
During the period‚ Murray & Roberts bought out the minority shareholders of its Australian subsidiary Clough‚ and delisted the company.
Murray & Roberts said the implementation of its “hub-and-spoke” strategy for Africa was progressing well. Representative offices had been established in West Africa since January 2013 and in Central Africa since October 2013.
The office in Maputo‚ Mozambique‚ would be opened during the first quarter of the current calendar year. “Extensive market engagement” was under way to develop business opportunities in these regions.
“The board is pleased with the group’s improved financial position as reported for the first six months of the year and expects the earnings growth trend to continue in the medium to long term‚” the group said.
