Murray & Roberts Holdings Limited - Annual General
Murray & Roberts Holdings Limited - Annual General Meeting
MURRAY & ROBERTS HOLDINGS LIMITED
("the Company" or "the Group")
Share Code : MUR
ISIN : ZAE 00008983
Annual General Meeting - Business update
At the annual general meeting of the Company held today, the Group Chief
Executive, Mr Brian Bruce, made the following statement.
"The performance of the Group through the first quarter of the financial year,
has underpinned the prospects statement included in the Annual Report to
shareholders. Order books are at acceptable levels throughout the Group, with
many opportunities being pursued across all sectors of business activity.
There is evidence of softness in some consumer aspects of the global economy,
but inherent strength in the South African economy and a built-up demand for
fixed investment throughout most of the developing world, offers opportunity for
the Group to selectively leverage its competitive strategies.
Subject to a collective will by all of South African society to overcome the
system constraints limiting the flow of investment funds into fixed capital
formation, construction spend should increase steadily over the next few years.
This is particularly encouraging for the Group`s Supplies and Services
companies.
The New Partnership for Africa`s Development (NEPAD) is an essential driver for
the normalisation of business and governance throughout the continent. The
Company will continue to support this important strategic intervention.
Remedial actions taken in the Genrec Group, Murray & Roberts Foundries Group and
Murray & Roberts Civils as notified in the Annual Report, have been tested in
the first quarter of the financial year. Under new strategic and operations
leadership, these companies show strong evidence of improved performance.
The Group reiterates the prospects statement included in the Annual Report that
a material increase in earnings per share will result from real growth in
revenues and a further improvement in profit margins."
All of the resolutions proposed to the annual general meeting were approved by
the required majority of shareholders.
BEDFORDVIEW
28 October 2002
Date: 28/10/2002 01:35:22 PM Produced by the JSE SENS Department
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