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Highlights

       
       

Salient Features

Lost time injury frequency rate improved to 0.82 (December 2012: 0.85), but regrettably two fatal incidents (December 2012: 0) were reported
Revenue from continuing operations improved to R19 billion (December 2012: R16,3 billion)
Attributable earnings improved to R724 million (December 2012: R262 million)
Diluted HEPS from continuing operations improved by 41% to 62 cents (December 2012: 44 cents), diluted HEPS improved by 25% to 86 cents (December 2012: 69 cents)
Robust order book of R44,9 billion (December 2012: R48,3 billion)
Improved net cash position of R2 billion (December 2012: R1,1 billion)
Acquisition of Clough minority shares and delisting
Sale of Construction Products businesses nearing conclusion

A New Strategic Future

Murray & Roberts is in the final year of its three-year Recovery & Growth strategy, which returned the Group to profitability and established a foundation for growth. The Group successfully delivered its Recovery Year and has substantially achieved all of the strategic objectives that were set for its two Growth Years. Profitability in the South African operations continues to be a priority.

The Recovery & Growth plan created a stronger financial basis and returned focus to the Group’s core competency of engineering and construction, with increased emphasis on the natural resources markets of oil & gas and metals & minerals, which have been identified as the sectors presenting the best sustainable growth potential in the medium-to long term.

The Group is now developing its next strategic phase; A New Strategic Future. The prime objective of this strategy is to optimise shareholder return by investing in specific growth market sectors and to expand the Group’s business into more profitable segments of the engineering and construction value chain.


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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 reflect 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; use of the proceeds of the rights offer; 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 reflect 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 reflect 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 NB Langa-Royds*
JM McMahon1* WA Nairn* RT Vice*

1British *Non-executive

 

 

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