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MURRAY & ROBERTS HOLDINGS LIMITED - Trading Statement for the Year Ended 30 June 2019

Release Date: 23/08/2019 10:59
Code(s): MUR     PDF:  
Wrap Text
Trading Statement for the Year Ended 30 June 2019

(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
(“Murray & Roberts” or the “Company” or “Group”)


The reclassification of the Company’s listing on the JSE in March 2017 from the heavy
construction to the diversified industrial subsector, marked the beginning of a new and
exciting narrative for Murray & Roberts as a multinational provider of specialised
engineering and construction services, primarily in the metals and minerals, oil and gas and
power and water market sectors.

Implementation of the New Strategic Future plan gathered momentum in the year, with the
Group’s business platforms making headway in consolidating their strategic positions,
competitive advantages and growth prospects. A strong, quality order book of R46,8 billion
and near orders of R13,9 billion as at 30 June 2019, compared to an all-time high order
book of R55,5 billion, underscores the board of director’s (“Board”) confidence that the
Group’s strategy is starting to yield the planned outcomes.

The prospects for an improvement in operational performance is encouraging and the
Group remains optimistic about the longer-term outlook for natural resources markets.


Shareholders are advised that Murray & Roberts expects to show an improvement in total
earnings per share (“EPS”) and headline earnings per share (“HEPS”), for the year to 30
June 2019 (“FY2019”), when compared to the previous corresponding period to 30 June

The Company expects to report FY2019 results within the following ranges:

                            30 June 2019            30 June 2019           30 June 2018
                           Expected range          Expected range              Actual
                                 (%)                    (cps)                  (cps)
 Basic EPS                     19 – 34                 80 – 90                   67
 Diluted EPS                   18 – 33                 78 – 88                   66
 Basic HEPS                    62 – 79                 76 – 84                   47
 Diluted HEPS                  61 – 78                 74 – 82                   46

The improvement in earnings for FY2019, relative to the previous corresponding period, is
predominantly due to a smaller loss recorded in discontinued operations.

Shareholders are advised that, in accordance with Regulations 111 (9) and (10) of the
Companies Regulations, 2011, read with Section 3.4 (b) (viii) (1) of the JSE Listings
Requirements, the financial information under this heading “Trading Statement” has been
reviewed and reported on by Deloitte & Touche, the Group’s external auditors. Their review
was performed in accordance with ISRE 2410 – Review of Interim Financial Information
Performed by the Independent Auditor of the Entity. A copy of the unmodified report is
available for inspection by shareholders at the registered address of Murray & Roberts until
the release of the FY2019 Annual Results, which is expected to be on or about 28 August


The Board accepts responsibility for the information contained in this update and certifies
that, to the best of the knowledge and belief of its members, the information contained in
this announcement is true and nothing has been omitted which is likely to affect the
accuracy and relevance of the information.

23 August 2019

The Standard Bank of South Africa Limited

Date: 23/08/2019 10:59:00
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