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M&R to report strong full-year results

25th August 2022

By: Marleny Arnoldi

Online News Editor

     

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JSE-listed engineering and mining contractor Murray & Roberts (M&R) expects to report a strong set of financial results for the financial year ended June 30, despite impacts to the business from the Covid-19 pandemic and the Ukraine war.

The group expects to report basic earnings per share (EPS) of between 33c and 35c, marking a 100% improvement on the loss a share of 46c posted in the prior financial year, from continuing and discontinued operations.

On a continuing operations basis, basic EPS will be between 61c and 63c for the year under review, against basic EPS of 19c posted in the prior year.

M&R says that, notwithstanding disruption in supply chains, changes to project schedules and associated deferral of milestone payments, escalating inflation and difficult commercial environments as a result, the group remains in strong standing with an order book of R59.5-billion and significant near orders of R60.4-billion.

This compares with an order book of R60.7-billion and near orders of R11.1-billion as at June 30, 2021.

M&R’s results will be published on August 31.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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