Murray & Roberts: fat orders, fat profit? Not always
A surging order book is behind a share recovery for M&R. But timing and margins are important too
You’d be hard-pressed to explain the post-results bounce in the Murray & Roberts (M&R) share price, to a six-week high of R13.
Not only did revenue from continuing operations drop 7% for the year ended June, the company generated 10% less in the form of diluted headline earnings.