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M&R order book at all-time high, to swing to full-year profit

23rd August 2021

By: Marleny Arnoldi

Online News Editor

     

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JSE-listed engineering and construction group Murray & Roberts (M&R) says its order book of R60.7-billion, as at August 23, is at its highest ever level.

The company attributes its solid order book to the implementation of its group-wide strategy to diversify and differentiate its three business platforms.

The Power, Industrial and Water platform operates in sub-Saharan Africa, while the Mining platform is structured into three regional businesses operating in sub-Saharan Africa, the Americas and Australasia.

The company’s Energy, Resources and Infrastructure platform is structured into two regional businesses – the Asia-Pacific region and the Americas.

M&R expects to report headline earnings a share of between 11c and 22c for the financial year ended June 30, compared with the 88c headline loss a share it posted for continuing operations for the prior financial year.

Earnings before interest and taxes are expected to be between R530-million and R560-million, against a R17-million loss in the prior comparable period.

“The group’s exposure to its promising target markets, coupled with its strong order book from those markets, holds the potential for meaningful earnings growth in the 2022 financial year and in the medium term,” the company states.

M&R will publish its financial results on or about September 1.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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