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MURRAY & ROBERTS HOLDINGS LIMITED - Trading statement for the six months ended 31 December 2021

Release Date: 22/02/2022 12:00
Code(s): MUR     PDF:  
Wrap Text
Trading statement for the six months ended 31 December 2021

MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ADR Code: MURZY
ISIN: ZAE000073441
(“Murray & Roberts” or the “Group”)

TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2021

The Group is expecting to report strong growth in revenue and earnings in the period under
review. Over the next three years, the Group expects most of its revenue to be generated
by its two international business platforms, being the Mining and the Energy, Resources &
Infrastructure platforms. Both platforms have established credible positions in regions and
sectors with sustainable growth prospects.

The business impact of the COVID-19 pandemic and related restrictions has continued into
FY2022, mainly in the Group’s Americas and Australasian operations. Areas of impact
include the timing of new work awards, changes to project schedules, and disruption of
supply chains. The Group, however, is well positioned to operate successfully through the
uncertainty.

The Group currently generates revenue from its order book of between R2,0 billion and
R2,5 billion per month and is maintaining the order book value at record levels of about R60
billion, through the systematic addition of new project awards.

The Group’s exposure to the natural resources, industrial, energy, water and infrastructure
markets, and its strong order book from those markets, holds the potential for meaningful
earnings growth in FY2022 and in the medium term.

The Group expects to report FY2022 H1 results within the following ranges:

Results from continuing and discontinued operations

                                         FY2022 H1          FY2022 H1          FY2021 H1
                                         Expected           Expected             Actual
                                           range              range             cps loss
                                             %             cps earnings
 HEADLINE EARNINGS/(LOSS)
 PER SHARE
 Basic                                      >100              10 – 15             (28)
 Diluted                                    >100              10 – 15             (28)
 EARNINGS/(LOSS) PER SHARE
 Basic                                      >100              11 – 17             (42)
 Diluted                                    >100              11 – 17             (42)
Results from continuing operations

                                        FY2022 H1          FY2022 H1         FY2021 H1
                                        Expected           Expected            Actual
                                          range              range             result
                                            %             cps earnings        cps loss
 HEADLINE EARNINGS/(LOSS)
 PER SHARE
 Basic                                      >100          29.5 – 30.5            (8)
 Diluted                                    >100          28.5 – 29.5            (8)
 EARNINGS/(LOSS) PER SHARE
 Basic                                      >100            30 – 32              (13)
 Diluted                                    >100            29 – 31              (13)

PROSPECTS STATEMENT

The Group’s economic future is global and diverse, with strong prospects for meaningful
growth. Murray & Roberts is well positioned to enable and optimise the capital investments
that corporations, governments, and institutions will need to undertake to support
sustainable human development, as the world emerges from the pandemic. The Group’s
order book reflects these pressing global development needs, as well as significant
opportunities in international markets.

PUBLICATION OF INTERIM FINANCIAL RESULTS

Murray & Roberts intends to publish its interim financial results for the six months to 31
December 2021 on SENS on Wednesday, 2 March 2022 before 17:00 (CAT).

The information contained in this announcement has not been reviewed and reported on by
Murray & Roberts’ external auditors.

Bedfordview

22 February 2022

Sponsor
The Standard Bank of South Africa Limited

Date: 22-02-2022 12:00:00
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