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Update Regarding Ongoing Disruption To Order Book Delivery, Trading Statement And Cautionary Announcement
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
(“Group” or “the Company”)
UPDATE REGARDING ONGOING DISRUPTION TO ORDER BOOK DELIVERY, TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the Group’s stakeholder report for the year ended 30 June 2022, in which
the Group disclosed that delivery of its order book was increasingly being disrupted in the current
environment and that increased levels of working capital were required to address the dislocation in
project cash flows.
Shareholders are advised that the disruption in supply chain delivery and delay in project milestone
payments continue to persist with a number of projects progressing slower than planned, impacting
margin and working capital requirements. Margin deterioration has recently been recorded at the
Traveler project in the USA and the Waitsia project in Australia, both of which will be close to completion
by the end of financial year 2023.
In terms of the JSE Limited Listings Requirements, companies are required to publish a trading
statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial
results for the next reporting period will differ by at least 20% from the previous and corresponding
reporting period. The Group has a reasonable degree of certainty that the margin deterioration
described above will result in the financial results for the six months period ending 31 December 2022,
to be at least 100% down on the previous and corresponding reporting period. At this stage the board
of directors of the Company does not have reasonable certainty on the earnings per share ranges. The
Group will however publish an updated trading statement once there is more certainty on these ranges.
The Group’s working capital requirements are especially acute in its Energy, Resources & Infrastructure
business platform. The Group is currently reviewing its strategic options to address this platform’s near-
term working capital needs.
The developments described above relating to the ongoing disruption to order book delivery may have
a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to
exercise caution when dealing in the Company’s securities until a further announcement is made.
The information contained in this announcement has not been reviewed or reported on by the
Company’s external auditors.
Bedfordview
17 October 2022
Sponsor
The Standard Bank of South Africa Limited
Date: 17-10-2022 07:05:00
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