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MUR
MUR
Murray & Roberts - Business Update
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 "the Group")
58TH ANNUAL GENERAL MEETING - 25 OCTOBER 2006
BUSINESS UPDATE
The strong demand for construction services and materials has continued in
South Africa and Middle East through the first quarter of the new financial
year. These are the primary markets for Murray & Roberts and the Group will
benefit substantially should these levels of demand continue through the
remainder of the year.
The global market for natural resources is a primary driver of value for
Murray & Roberts and increased levels of demand continue to bring a steady
flow of new opportunity to the Group"s specialist underground mining &
minerals and offshore oil & gas operations and investments.
For the first time in more than two decades, resource constraints are
playing a key role in the planning, procurement and implementation of
capital projects. A general growth in fixed investment activity and the
advance of globalisation have combined to increase international mobility
and trade in all categories of construction industry resource. This
presents new challenges to generally fragmented regional contracting
industries, including Southern Africa.
Order Book
The project order book for the Group increased to R 16,5 billion at 30
September 2006, with the Gautrain Rapid Rail Link Project commencing on 28
September 2006. There is an increasing reservoir of project opportunity
evident in all the Group"s markets, with more than R 20 billion currently
approved in the Group"s Opportunity Management System.
The contract for thirty one new locomotives for Spoornet"s Orex rail system
between Sishen and Saldanha was signed into effect this week. The Group has
a 50% interest worth an initial R 600 million through its responsibility
for mechanical works and assembly.
All stadium contracts for the 2010 Soccer World Cup are either in
prequalification or tender stage and it is anticipated that work will
commence in time for completion before the event. The Group was
unsuccessful in its first attempt, with a Chinese contractor submitting a
25% lower tender for the Nelspruit stadium.
Prospects
First quarter trading in the Group has continued from the benchmark set
through the second half of the previous financial year. The Directors meet
at end-November 2006 to consider and approve the Group"s first quarter
financial results and budget assessments for the year to 30 June 2007. A
trading statement will be issued thereafter should this be required in
terms of the JSE Listings Requirements.
Johannesburg
25 October 2006
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Date: 25/10/2006 10:37:15 AM Produced by the JSE SENS Department
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