Sharenet Sites 
Sharenet Sites
Trading Statement
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 the “Company” or “Group”)
TRADING STATEMENT
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a
company is required to publish a trading statement as soon as it is satisfied, that a
reasonable degree of certainty exists, that the financial results for the next period to be
reported on are likely to vary by at least 20% from the previous corresponding period.
Accordingly, shareholders of the Company are advised that Murray & Roberts’ annual
financial results for the year ended 30 June 2014 are expected to show a strong
improvement when compared to the previous corresponding period.
Headline Earnings per
Earnings per share
share continuning &
Diluted (cents): continuning discontinued
FY2013 Actual 132 245
- Pro forma adjustment -9** 0**
FY2013 Restated 123* 245
FY2014 Range
- low 200 300
- high 210 310
Headline Earnings per
Earnings per share
share continuning &
Basic (cents): continuning discontinued
FY2013 Actual 134 247
- Pro forma adjustment -10** 0**
FY2013 Restated 124* 247
FY2014 Range
- low 203 305
- high 213 315
* Restated for discontinued operations
** The pro forma adjustment relates to the impact of restating Tolcon from continuing to discontinued
operations during the year under review.
Shareholders are advised that the financial information on which this trading statement is
based has not been reviewed and reported on by the Group’s external auditors.
DISCONTINUED OPERATIONS
As announced on 8 August 2014, Murray & Roberts has entered into an agreement of
sale for its shareholding in Tolcon. This agreement, which supports the Group’s focus on
its core capabilities of engineering and construction, is subject to Competition
Commission and other approvals. The agreement excludes the investments in the
Bombela Concession and Bombela Operating Companies and also Entilini Concession
and its Operating Companies - the Group’s Concessions businesses are not part of
Tolcon. Stakeholders will be updated on the outcome of the transaction in due course.
CLAIMS UPDATE
- Gorgon Pioneer Materials Offloading Facility (“GPMOF”) – Murray & Roberts
announced on 9 June 2014 that the Company had reached a financial settlement
with Boskalis Australia Pty Ltd in respect of its GPMOF major claim. The parties
negotiated a settlement on all claims and counter claims and the agreement
provides for two cash payments, end-June 2014 and end-September 2014. The
uncertified revenue taken to book on GPMOF during previous financial years has
now been certified. This settlement achieved additional income of R323 million.
- Gautrain – In November 2013 an arbitration award was made in favour of the
Gauteng Province, in the Gautrain water ingress dispute between the Gauteng
Province and the Bombela Concession Company. A panel of technical experts
and design consultants were appointed to design a technical solution to the water
ingress. The Company has recorded a R300 million provision based on an early
assessment of these designs, for its share of potential costs to be incurred. The
legal process on the multi-billion rand Delay & Disruption claim against the
Gauteng Province is progressing. This claim is expected to be settled no sooner
than 2016 and any award will attract interest from 2009 to the date of award.
- Dubai International Airport – The arbitration for the Dubai International Airport
claim is ongoing and the claim is expected to be resolved during the 2015
calendar year.
DATE OF ANNUAL FINANCIAL RESULTS & PRESENTATIONS
Murray & Roberts intends to publish its annual results for the year ended 30 June 2014 on
Wednesday, 27 August 2014 at or around 17:00 on the Stock Exchange News Service of
the JSE and will be hosting investor presentations in Johannesburg on Thursday,
28 August 2014 and in Cape Town on Monday, 01 September 2014. In addition to the
physical presentations, the Company will provide the following stakeholder services on
Thursday, 28 August 2014 at 10:00 (SA Time):
1. Live Call Access
Live call access will be available on the following details:
South Africa (Toll Free) 0 800 200 648
South Africa - Cape Town 021 819 0900
South Africa – Johannesburg 011 535 3600
South Africa – Johannesburg 010 201 6800
UK (Toll-Free) 0808 162 4061
USA and Canada (Toll-Free) 1 855 481 5362
Playback details can be requested from ed.jardim@murrob.com
2. Live Webcast
A live webcast will also be available on www.murrob.com, on the ‘Annual Results’
link on the home page.
Bedfordview
14 August 2014
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 14/08/2014 02:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
