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MUR - Murray & Roberts Holdings - Expected earnings for the half year to 31

Release Date: 18/02/2010 14:23
Code(s): MUR
Wrap Text

MUR - Murray & Roberts Holdings - Expected earnings for the half year to 31 December 2009 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") EXPECTED EARNINGS FOR THE HALF YEAR TO 31 DECEMBER 2009 Shareholders were advised in a trading statement published on SENS dated 25 November 2009 that revenue and operating profit for the first half-year to 31 December 2009 were expected to be 10% to 20% lower than the previous comparable period and that diluted headline earnings per share ("HEPS") and diluted earnings per share ("EPS") were expected to be between 15% and 20% lower than the previous comparable period. The above trading statement listed a number of factors outside the control of the Group that are impacting working capital and financial performance in the current financial year. In preparing the financial statements for the half-year to 31 December 2009, the Group is assessing the extent of working capital relative to certain major projects and the recognition of revenues to which it is entitled but are as yet uncertified. These revenues are only recoverable in the future through the resolution of claims for change in scope, delay and disruption in terms of the various contracts. This has introduced uncertainty to finalisation of the financial statements for the halfyear to 31 December 2009 and the Group is unable at this time to give a precise indication of the extent to which any revenue impairments might increase the already notified 20% reduction in HEPS and EPS compared to the previous comparable period. The Group will publish its unaudited consolidated results for the half-year to 31 December 2009 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 external auditors and is provided in terms of paragraph 3.4(b) of the JSE Listings Requirements. Bedfordview 18 February 2010 Sponsor: Deutsche Securities (SA) (Pty) Ltd Date: 18/02/2010 14:23:02 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.

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