The Board is pleased to announce that the Group has returned to profitability, mainly as a result of the completion of problematic contracts, which reported losses in prior financial periods.

Following the Global Financial Crisis and major losses on several large projects, Murray & Roberts on 1 July 2011 embarked on a three year Recovery & Growth strategy. The plan for the Recovery year to June 2012 was successfully implemented and the Board approved the Growth strategy for the 2013 and 2014 financial years.

In developing the Growth strategy, the Board evaluated all market sectors and geographies in which the Group is active, with the objective to identify those market sectors and geographies that present the best long-term financial growth potential to shareholders.

The Group’s current operating platforms are not optimally aligned with those market sectors and geographies identified and the Growth strategy is primarily focused on disposals and acquisitions to align the Group’s operating platforms with identified opportunities.

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