MUR - Murray & Roberts Holdings - Expected earnings for the half year to 31
MUR
MUR
MUR - Murray & Roberts Holdings - Expected earnings for the half year to 31
December 2009
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 "Group")
EXPECTED EARNINGS FOR THE HALF YEAR TO 31 DECEMBER 2009
Shareholders were advised in a trading statement published on SENS dated 25
November 2009 that revenue and operating profit for the first half-year to 31
December 2009 were expected to be 10% to 20% lower than the previous comparable
period and that diluted headline earnings per share ("HEPS") and diluted
earnings per share ("EPS") were expected to be between 15% and 20% lower than
the previous comparable period.
The above trading statement listed a number of factors outside the control of
the Group that are impacting working capital and financial performance in the
current financial year.
In preparing the financial statements for the half-year to 31 December 2009, the
Group is assessing the extent of working capital relative to certain major
projects and the recognition of revenues to which it is entitled but are as yet
uncertified. These revenues are only recoverable in the future through the
resolution of claims for change in scope, delay and disruption in terms of the
various contracts.
This has introduced uncertainty to finalisation of the financial statements for
the halfyear to 31 December 2009 and the Group is unable at this time to give a
precise indication of the extent to which any revenue impairments might increase
the already notified 20% reduction in HEPS and EPS compared to the previous
comparable period. The Group will publish its unaudited consolidated results for
the half-year to 31 December 2009 on 24 February 2010, including a prospects
statement for the full year to 30 June 2010.
The above financial information has not been reviewed or reported on by the
Group`s external auditors and is provided in terms of paragraph 3.4(b) of the
JSE Listings Requirements.
Bedfordview
18 February 2010
Sponsor:
Deutsche Securities (SA) (Pty) Ltd
Date: 18/02/2010 14:23:02 Produced by the JSE SENS Department.
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