Murray & Roberts has certainly turned the corner since it left SA's struggling construction industry behind when it jettisoned its infrastructure and building businesses in 2016 to focus on other sectors, including mining.

But this improvement in fortunes — which includes a 60% increase in the group's order book for the six months to December — is not reflected in the share price, which is sitting at about a 10th of what it was at its peak in October 2007 when Murray & Roberts was viewed as a South African infrastructure champion. Shares closed at R9.60 on Friday...

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