Murray and Roberts swaps JSE sectors as it quits civils and building
Murray & Roberts is transferring its JSE listing from the construction and materials sector to the general industrials sector on disposing of its South African infrastructure and building businesses. The change in sector will be effective from March 20. The change has placed the group in the heavy construction and diversified industrial subsectors. The group says the latter subsector most closely describes group business that now consists of operations in oil and gas, underground mining and power and water sectors. "We are not exiting SA — just the civil and building sector in SA," Ed Jardim, group investor and media executive, said on Monday. "We don’t think there are any specific, tangible changes, apart from the actual change in sector on the JSE. It’s mainly to address the perception that Murray & Roberts is a civil and building contractor, which we no longer are." Jardim said the timing of the move was coincidental with the high volumes of Murray & Roberts shares traded late la...
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