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M&R expects improvement in interim HEPS

22nd February 2022

By: Marleny Arnoldi

Online News Editor

     

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JSE-listed engineering and contracting group Murray & Roberts (M&R) expects to report strong growth in revenue and earnings for the six months ended December 31.

On a continuing operations basis, M&R expects to report diluted headline earnings per share (HEPS) of between 28.5c and 29.5c, which is more than a 100% improvement on the 8c apiece diluted headline loss a share posted for the prior comparable six months.

From a continuing and discontinued operations perspective, M&R expects to report diluted HEPS of between 10c and 15c, compared with a diluted headline loss a share of 28c in the prior half-year period.

The company says Covid-19 continued to impact on the group’s Americas and Australasian operations, including in the form of the timing of new work awards, changes to project schedules and supply chain disruptions.

M&R’s order book stands at R60-billion.

The company says its exposure to natural resources, industrial, energy, water and infrastructure markets holds the potential for meaningful earnings growth in the full 2022 financial year and in the medium term.

M&R will publish its interim results on or about March 2.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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