M&R’S ORDER BOOK RISES TO OVER R46BN, WITH MORE IN PIPELINE

Engineering and construction group Murray &
Roberts (M&R) reported a strong rise in its order book
to R46.8-billion, a 55% increase when compared with its order backlog of
R30.1-billion reported a year ago.

The increase, the company said on Wednesday, was
underpinned mainly by new orders placed with its oil and gas platform.

The company also reported “near orders” worth
R14.4-billion, most of which were associated with its oil and gas and underground
mining platforms.

Orders for the group’s power and water platform
continued to decline, owing to weak market conditions in South Africa and the
fact that the Medupi and Kusile power projects were nearing completion.

M&R also reported a 26% rise in attributable
earnings to R337-million for the year to June 30, 2019, from R267-million in
the previous financial year.

Group revenue fell 7% to R20.2-billion from
R21.8-billion, while diluted continuing headline earnings per share decreased
by 10% to 101c, from 112c in 2018.

Following a review of M&R’s dividend policy, the board resolved to increase the gross annual dividend for the year under review to 55c/share, up from the 50c/share declared in 2018. https://www.engineeringnews.co.za/article/mrs-order-book-rises-strongly-to-over-r46bn-2019-08-28