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Trading statement for the six months ended 31 December 2023
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN: ZAE000073441
("Murray & Roberts" or the "Group")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2023
The voluntary administration of the Group's Australian subsidiaries in December 2022,
significantly reduced the size of the Group. Today, Murray & Roberts is an engineering and
contracting services company, now focused on the international underground mining
market, and the renewable energy and power infrastructure markets in Sub-Saharan Africa.
Considering the Group's reduced earnings base, it had to agree a deleveraging plan to
settle its debt in South Africa with a consortium of South African banks. As outlined in the
SENS announcement published on 8 December 2023, the Group has made meaningful
progress with its deleveraging plan, and its remaining debt in South Africa has been
reduced to circa R400 million, down from circa R2 billion in April 2023. The final milestone
in the deleveraging plan is to refinance this remaining debt by June 2024.
The Group has further made meaningful progress towards implementing a sustainable
capital structure, which, following a thorough cost review, necessitated several cost
rationalisation and restructuring decisions, which will be detailed in the publication of the
Group's interim results.
The Group expects to report FY2024 H1 results within the following ranges:
Results from continuing and discontinued operations
FY2024 H1 FY2024 H1 FY2023 H1*
Expected Expected Published
range range result
% cps cps
HEADLINE LOSS PER SHARE
Basic 91 – 93 (29) – (24) (322)
Diluted 91 – 93 (29) – (24) (322)
LOSS PER SHARE
Basic 96 – 97 (26) – (21) (627)
Diluted 96 – 97 (26) – (21) (627)
*Inclusive of the loss from the deconsolidation of Murray & Roberts Pty Ltd, Clough and RUC.
Results from continuing operations
FY2024 H1 FY2024 H1 FY2023 H1 FY2023 H1**
Expected Expected Published Restated
range range result result
% cps cps cps
HEADLINE LOSS PER
SHARE
Basic 37 – 53 (19) – (14) (30) (27)
Diluted 37 – 53 (19) – (14) (30) (27)
LOSS PER SHARE
Basic 45 – 62 (16) – (11) (29) (26)
Diluted 45 – 62 (16) – (11) (29) (26)
**Restated for Insig Technologies, previously reported as continuing operations, now reported as discontinued
operations.
FOCUSED ON THE FUTURE
The Group is committed to creating shareholder value from the current low base and to
ensure that Murray & Roberts excels as an engineering and contracting services provider
to the global underground mining market and its chosen market sectors in Southern Africa.
PUBLICATION OF INTERIM FINANCIAL RESULTS
Murray & Roberts intends to publish its interim financial results for the six months to 31
December 2023 on SENS on Wednesday, 6 March 2024 before 15:00 (CAT).
The information contained in this announcement has not been reviewed and reported on by
Murray & Roberts' external auditors.
Bedfordview
29 February 2024
Sponsor
The Standard Bank of South Africa Limited
Date: 29-02-2024 02:23:00
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