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MUR
MUR
MUR - Murray & Roberts Holdings Limited - Cautionary announcement and trading
statement
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")
CAUTIONARY ANNOUNCEMENT AND TRADING STATEMENT
Shareholders are advised that there are circumstances relating to the Group,
the full impact and details of which are currently being determined as noted
below, that may have a material effect on the price of the Group`s
securities. Accordingly, shareholders are advised to exercise caution when
dealing in the Group`s securities until publication of the Group`s unaudited
interim half-year financial results on or about 23 February 2011.
The Group is critically reviewing its progress in the resolution of
outstanding final accounts in the Middle East and claims resolution in South
Africa, which remain slow and arduous. Trading conditions in both of the
above markets have become tougher in recent months and cash collection
relative to costs being incurred on public sector projects remains a concern.
As a consequence, an impairment charge on previously recognised uncertified
revenues is expected to be taken for the half-year to 31 December 2010.
Management is working with its clients and partners on the resolution of
these matters and the Group is unable at this time to give a precise
indication of the extent of the impairment. It is expected, however, that
diluted headline earnings per share and earnings per share will reflect a
loss for the period.
Excluding any impairment charge, diluted headline earnings per share and
earnings per share for continuing operations for the half-year to 31 December
2010, are expected to be down between 35% and 45% and between 30% and 40%,
respectively compared to the previous comparable period.
The above information is provided in terms of the Listings Requirements of
the JSE Limited. The financial information on which the trading statement is
based has not been reviewed or reported on by the Group`s external auditors.
Bedfordview
28 January 2011
Sponsor
Deutsche Securities (SA) (Pty) Ltd
Date: 28/01/2011 11:39:02 Produced by the JSE SENS Department.
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