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Highlights

       
       
^ The prior year information has been restated for discontinued operations.

A New Strategic Future

Over the last three years, during which it delivered its Recovery & Growth strategy, the Group restored financial stability and returned to profitability, re-organised and re-energised the businesses and resumed the dividend payment. The Group is now proceeding with its longer term plan to build a New Strategic Future. The board of directors of Murray & Roberts (“Board”) recently approved the New Strategic Future plan, which will be shared with stakeholders in more detail as the plan unfolds.

By 2020 the Group aims to be a leading international diversified project engineering, procurement and construction group in selected natural resources market sectors. Specifically, the Group aims to grow in the oil and gas, mining, energy and industrial markets, where it is able to leverage its current capabilities.

The Group is an international, engineering-led contractor. In repositioning
Murray & Roberts and its brand to more accurately describe the target market sectors in which the Group applies its core capability, the Group renamed its four operating platforms...read more


Salient Features

Lost time injury frequency rate improved to 0.80 (June 2013: 0.82), but regrettably four fatal incidents (June 2013: 2) were reported
Revenue from continuing operations improved to R36 billion (June 2013: R34,2 billion^)
Attributable earnings improved to R1,3 billion (June 2013: R1 billion)
Diluted continuing HEPS improved to 205 cents (June 2013: 123 cents^)
Order book of R40,9 billion (June 2013: R46,1 billion)
Net cash of R1,8 billion (June 2013: R4,3 billion) after the Clough Limited ("Clough") minority acquisition in December 2013 of R4,4 billion
NAV of R13 per share (June 2013: R16 per share) after the premium (goodwill) of R3,1 billion (R7 per share) associated with the Clough minority acquisition in December 2013 was written off against equity, as required in terms of IFRS
Resumption of dividend payments
Successful conclusion of the Recovery & Growth strategy
Settlement of GPMOF claim and realisation of additional income of R323 million
Acquisition of Clough minority shares and delisting of Clough
Sale of Construction Products businesses completed
^ The prior year information has been restated for discontinued operations.

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Disclaimer

This announcement includes certain various “forward-looking statements” within the meaning of Section 27A of the US Securities Act 10 1933 and Section 21 E of the Securities Exchange Act of 1934 that refl ect the current views or expectations of the Board with respect to future events and financial and operational performance. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including, without limitation, those concerning: the Group’s strategy; the economic outlook for the industry; and the Group’s liquidity and capital resources and expenditure. These forward-looking statements speak only as of the date of this announcement and are not based on historical facts, but rather refl ect the Group’s current expectations concerning future results and events and generally may be identified by the use of forward-looking words or phrases such as “believe”, “expect”, “anticipate”, “intend”, “should”, “planned”, “may”, “potential” or similar words and phrases. The Group undertakes no obligation to update publicly or release any revisions to these forward looking statements to refl ect events or circumstances after the date of this announcement or to reflect the occurrence of any unexpected events. Neither the content of the Group’s website, nor any website accessible by hyperlinks on the Group’s website is incorporated in, or forms part of, this announcement.


Murray & Roberts Holdings Limited
(Incorporated in the Republic of
South Africa)
Registration number: 1948/029826/06
JSE Share Code: MUR ADR Code: MURZY
ISIN: ZAE000073441
(“Murray & Roberts” or “Group” or “Company”)
Registered office:
Douglas Roberts Centre,
22 Skeen Boulevard,
Bedfordview 2007.
PO Box 1000
Bedfordview 2008
Registrar:
Link Market Services South Africa
Proprietary Limited 13th Floor Rennie House,
19 Ameshoff Street, Braamfontein 2001.
PO Box 4844 Johannesburg 2000
Sponsor:
Deutsche Securities
(SA) Proprietary Limited

Secretary:
L Kok

Directors:
M Sello* (Chairman)
HJ Laas (Managing and Chief Executive)
DD Barber*
AJ Bester
R Havenstein*
NB Langa-Royds*
JM McMahon1*
WA Nairn* RT Vice*

1British *Non-executive

 

 

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