ORDER BOOK BOOST
Murray & Roberts wins new mining projects in North American and Australasia
The new underground mining projects are worth a total of R3.8bn over four years
Murray & Roberts has won new underground mining projects in North American and Australasian markets worth a total of R3.8bn, to be delivered over a period of up to four years. This pushes up the value of the group’s underground mining platform order book about 25% from the R15.3bn reported as at the end of December 2017. The group has undergone years of restructuring to take advantage of global energy, mining, oil and gas and water projects amid dire South African mining and general infrastructure markets. “Based on the improvement in the commodity cycle and increased investment by mining companies, we expect the global mining market to present long-term growth potential for our underground mining platform,” said CEO Henry Laas. Revenue from continuing operations in the interim period to December 2017 rose 10% to R11.8bn, while diluted headline earnings per share from continuing operations more than doubled to 55c. This was helped by a strong performance in the underground mining bu...