Sponsored
subscribe Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Subscribe now

WATCH | Murray & Roberts' interim results in 60 seconds

Murray & Roberts (M&R), the JSE-listed multinational engineering and contracting group, has released its half-year results for the period ending December 31 2021, reporting strong growth in revenue and earnings in the period under review.

The business impact of the Covid-19 pandemic and related restrictions has continued into the 2022 financial year, mainly in M&R’s American and Australasian operations. Areas of impact include the timing of new work awards, changes to project schedules, and the disruption of supply chains. The group is actively managing these challenges.

M&R now generates revenue from its order book of between R2bn and R2.5bn per month. It is maintaining the order book value at record levels of about R60bn through the systematic addition of new project awards.

Highlights of the interim results include:

  • Strong growth in revenue and earnings from continuing operations.
  • A significant, quality order book of R61.1bn (R60.5bn in the first half of the previous financial year).
  • Robust near orders of R12.8bn (R19.9bn in the first half of the previous financial year).
  • A category-one project pipeline of R74.3bn (R94.7bn in the first half of the previous financial year) – circa R20bn on a sole-tender basis.
  • The lost-time injury frequency rate improved to 0.42 (1.00 in the first half of the previous financial year) – no fatal incidents occurred.
Murray & Roberts' mining platform is one of its two international business platforms from which it expects higher revenue and earnings in the next three years. Picture: SUPPLIED/MURRAY & ROBERTS
Murray & Roberts' mining platform is one of its two international business platforms from which it expects higher revenue and earnings in the next three years. Picture: SUPPLIED/MURRAY & ROBERTS

M&R CEO Henry Laas said: “Over the next three years, the group expects most of its revenue and earnings to be generated by its two international business platforms, being the mining and the energy, resources and infrastructure platforms.

"Both platforms have established credible positions in regions and sectors with sustainable growth prospects. SA’s renewable energy sector is expected to provide opportunity for the power, industrial and water platform to return to profitability in the medium term.”

Please note: This article contains extracts from the full interim financial results for the six months ended December 31 2021 and should be read in conjunction with the full interim financial results available here


ALSO WATCH | Murray & Roberts CEO Henry Laas joined Bronwyn Seaborne in the Business Day TV studio last month to discuss the company’s strategic vision and opportunities.

This article was paid for by Murray & Roberts.

Companies in this Story

subscribe Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Subscribe now

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.