JSE-listed Murray & Roberts (M&R) on Wednesday reported an attributable loss of R60-million for the six months ended December 31.
Revenue and profit from continuing operations were R10.7-billion and R119-million respectively for the period.
Diluted continuing headline earnings a share decreased to 27c, reflecting a reduction in earnings from the oil and gas platform of R172-million, a provision for additional costs of R130-million for closing out projects and the business in the Middle East, a negative exchange rate movement of R244-million and a one-off charge of R170-million in terms of the agreement entered into between all listed construction companies and government.
“M&R is largely exposed to the cyclical global natural resources sector, which has still not recovered from a period of prolonged weakness. This is reflected in the financial results recorded for the period under review,” CEO Henry Laas said.