Investors flee troubled Murray & Roberts
The stock is down nearly 50% over three days
08 November 2024 - 05:00
UPDATED 08 November 2024 - 15:42
Investors are fleeing Murray & Roberts (M&R), sending the company’s share price down nearly 50% over the past three days, as the group’s cash crunch places its future increasingly in the hands of lenders.
The engineering company, which hasn’t paid a dividend since 2019, spooked the market with a dire trading update on Tuesday in which it warned of a plunge in earnings and “liquidity constraints” in the SA business that are delaying much-needed cash-generating projects...
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