Good week for Henry Laas and a bad week for James Henderson
Murray & Roberts is one of this year’s sleeper stocks — it has gained 94% in the year to date, putting on a 20% burst since the company’s results presentation on August 24. The confusion as to whether the Gauteng province had okayed the construction company’s higher economic interest in Gautrain operator Bombela is now behind it. And the market has clearly bought CEO Henry Laas’s view that growth for companies working in the global oil and gas business is back. Roll on 2018.
Despite CEO James Henderson’s resignation, it’s doubtful that Bell Pottinger can survive its expulsion from the UK’s Public Relations & Communications Association for its work on a campaign in SA for Gupta-owned company Oakbay. The trade association’s chief said the campaign had "incited racial hatred" and was "absolutely unthinkable". More clients are expected to ditch Bell Pottinger. Following a complaint lodged by the DA, it is the first major PR firm to be thrown out of the trade body.