UNDERGROUND MINING BOOST
M&R expects 20% earnings increase
The expected increase in earnings points to another strong performance by its underground mining business
Multinational construction and engineering group Murray & Roberts (M&R) says it expects its earnings for the year ended June 30 to increase by at least 20%. The expected increase in earnings points to another strong performance by its underground mining business. At the release of its interim results early in 2018, M&R said it expected improvement in commodity prices and increased investment by mining companies to boost the business’s long-term growth potential. While the group was experiencing improved trading conditions in the underground mining division, it flagged difficulties in the oil and gas, and power and water sectors, which experienced project delays in the first half of the financial year. As a result, it said its focus was on cost reduction and improving operational performance in order to maintain and improve margins. The underground mining business lifted the company’s performance in the first six months of the financial year, largely thanks to strong performance in k...
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