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MUR - Murray & Roberts Holdings Limited - Trading Statement MURRAY & ROBERTS HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1948/029826/06 JSE Share Code: MUR ISIN: ZAE000073441 ("Murray & Roberts" or "Group") TRADING STATEMENT Shareholders are referred to the Business Update published on SENS following the annual general meeting of Murray & Roberts shareholders on 21 October 2009. While there has been little change in market conditions overall, the Group`s international operations are experiencing more robust market activity than is evident in South Africa. It is expected that revenue and operating profit for the first half-year to 31 December 2009 will be 10% to 20% lower than the previous comparable period and that diluted headline earnings per share and diluted earnings per share will be between 15% and 20% lower than the previous comparable period. The primary contributors to this performance profile are: * the strength of the SA Rand against the US Dollar and other currencies which translates international performance at a lower level compared to the previous first half-year; * performance weakness in the Engineering SADC cluster due primarily to reduced Southern Africa industrial and mining activity and delays to the Eskom power program; * no further profit recognition in respect of the Gautrain Project; * difficult trading conditions in the steel reinforcing sector; and * higher finance charges due to the funding of increased working capital. The Group`s project order book remains stable and stood at R42 billion at 31 October 2009, supported by a domestic and international project pipeline that is showing early signs of growth, particularly in the Group`s international markets. There is a strong indication, however, that the work secured by the Group at Kusile Power Station will be delayed, while the start of mechanical erection at the Medupi Project is now delayed by almost a year. Murray & Roberts has supported the decision by Bombela to offer a modified specification for phase 1 completion of the Gautrain Project in time for the 2010 FIFA Soccer World CupTM. This will require a significant effort from all parties involved in the project to overcome the remaining delays caused by the late transfer of land, dolomite rectification works in the Centurion area and funding constraints still subject to extended dispute resolution processes. The Group will publish its financial results for the first half-year on 24 February 2010, including a prospects statement for the full year to 30 June 2010. The above financial information has not been reviewed or reported on by the Group`s auditors and is provided in terms of paragraph 3.4(b) of the JSE Listings Requirements. Bedfordview 25 November 2009 Sponsor: Deutsche Securities (SA) (Pty) Ltd Date: 25/11/2009 14:02:02 Supplied by www.sharenet.co.za 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.
