ANNUAL RESULTS
Murray & Roberts upbeat on growth
Murray & Roberts CEO Henry Laas is adamant the company is on the cusp of a ‘new growth period’
Murray & Roberts CEO Henry Laas said he was confident that the company had pulled through the worst in underground mining and that it was coming through in oil and gas after reporting an 8% rise in diluted headline earnings per share for the year ended-June. That result excluded a R570m loss from its Middle East business, which it is hoping to shut completely by the end of March 2018 as part of a wide-ranging restructuring. This has seen it sell its Infrastructure and Building businesses to focus on underground mining, oil and gas and power and water. Laas was adamant Murray & Roberts was on the cusp of a "new growth period". The group declared a dividend of 45c a share as cash, net of debt, held at R1.8bn. The firm’s cash strength was one of the reasons the group had decided to increase its interest in Gautrain operator, the Bombela Concession Company (BCC), to 50%, he said. "The best strategy to earn a return on that cash is to increase our stake in the BCC. It’s a company we know...
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