M&R CEO Henry Laas
Photo by: Duane Daws
JSE-listed Murray & Roberts’ (M&R’s) order book decreased to R37.8-billion in the six months to December 31, compared with an order book of R44.9-billion as at December 2013.
The group attributed the decrease in its order book to smaller and shorter-term contracts being undertaken by its Oil & Gas platform, as well as the fact that few new projects had been secured by its Infrastructure & Building and Energy & Industrial platforms.
However, the Underground Mining platform’s order book improved to R13.8-billion in the six months under review, compared with R9.5-billion in the prior comparable period.
The group, led by CEO Henry Laas, had also secured near orders of R15-billion post period-end, R9.4-billion of which was secured by the Underground Mining platform.
Meanwhile, the group’s diluted headline earnings per share (HEPS) from continuing operations had increased by 39% to 79c in the six months under review, compared with diluted HEPS from continuing operations of 57c in the first half of the prior financial year.
Group revenue fell by 15% year-on-year to R15.9-billion, mainly owing the decline in revenue earned by the Oil & Gas platform to R6.8-billion, from R9.6-billion in the six months to December 2013.