MUR - Murray & Roberts Holdings - Trading Statement
MUR
MUR
MUR - Murray & Roberts Holdings - Trading Statement
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1948/029826/06
JSE Share Code: MUR
ISIN Code: ZAE000073441
("Murray & Roberts" or "Group")
TRADING STATEMENT
The board of directors of Murray & Roberts ("Board") met on 24 June 2009 to
consider inter alia a likely financial outcome for the current year to 30 June
2009 in the context of the global economic crisis.
Conditions in most of the Group`s markets show signs of stabilisation following
a volatile Third Quarter to 31 March 2009. Overall, performance for the second
half-year has been impacted by steel-related stock write-downs, project
terminations, major project start-up delays and the translation impact against
expectation of the stronger local currency.
Following the termination of a further R10 billion of orders as previously
notified to the market and ongoing delays in the potential award of a number of
major contracts, primarily in the South African market, the Group Order Book
settled at R42 billion by 31 March 2009 and has stabilised at this level over
the past two months.
The Board has taken a prudent view of the likely results for the Group for the
year to 30 June 2009. Further to previous guidance provided, it is anticipated
that diluted headline earnings per share and diluted earnings per share for the
year ending 30 June 2009 will increase by 15% to 20% compared with the previous
comparable period. The Group Operating Margin is expected to be maintained,
within the range 7,5% to 10,0%.
The financial information on which this trading statement is based has not been
reviewed or reported on by the Group`s auditors and is provided in terms of
paragraph 3.4(b) of the Listings Requirements of the JSE Limited.
Shareholders are reminded that Murray & Roberts will publish its preliminary
results for the financial year to 30 June 2009 on or about Wednesday 26 August
2009.
Bedfordview
24 June 2009
Sponsor:
Deutsche Securities (SA) (Pty) Ltd
Date: 24/06/2009 16:36:39 Produced by the JSE SENS Department.
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