Murray & Roberts - Interim Results

SALIENT FEATURES

• Lost time injury frequency rate improved to a record-low of 0.68 (June 2015: 0.79). Regrettably, two fatal incidents were recorded in the year.
• Decision to dispose of the Infrastructure & Building businesses and Genrec.
• Revenue from continuing operations increased by 9% to R26,1 billion (June 2015: R24 billion).
• Diluted continuing HEPS decreased by 10% to 175 cents (June 2015: 195 cents).
• Attributable earnings decreased by 15% to R753 million (June 2015: R881 million).
• Dividend of 45 cents per ordinary share (June 2015: 50 cents per ordinary share).
• Cash, net of interest bearing debt increased by 26% to R1,8 billion (June 2015: R1,4 billion).
• NAV increased by 7% to R16 per share (June 2015: R15 per share).
• Order book decreased by 13% to R33,4 billion (June 2015: R38,3 billion).
• Continued resilient financial performance from the Underground Mining platform.
• The low oil price has impacted the financial performance of the Oil & Gas business platform. Business optimisation initiatives already effected, will reduce platform overhead costs by A$40 million per annum.

THE NEW STRATEGIC FUTURE

The Group continues to implement its New Strategic Future plan and the three multinational business platforms provide a strong base for future growth.

The three key drivers supporting the Group’s strategy are: global economic growth, global population growth, and continued urbanisation, which will provide the basis for sustainable growth in natural resources markets over the long term.

It is the Group’s vision, by 2025, to be a leading multinational group that applies its project lifecycle capabilities to optimise fixed capital investment. The Group will achieve this by focusing its expertise and capacity on delivering sustainable fit-for-purpose project solutions in selected oil & gas, metals & minerals and power & water market sectors.

Growing its capability in specialist engineering, commissioning and asset support & maintenance services in these market sectors, should yield higher margins and carry lower risk than services only provided in the construction segment of the project value chain. This diversification is aimed at enhancing return to shareholders.

financials

• Summarised consolidated statement of financial performance
• Summarised consolidated statement of comprehensive income
• Summarised consolidated statement of financial position
• Summarised consolidated statement of cash flows
• Summarised consolidated statement of changes in equity
• Summarised consolidated segmental analysis
• Segmental assets
• Segmental liabilities
• Notes