https://www.miningweekly.com

M&R’s order book rises to over R46bn, with more in pipeline

M&R’s order book rises to over R46bn, with more in pipeline

Photo by Creamer Media's Dylan Slater

28th August 2019

By: Terence Creamer

Creamer Media Editor

     

Font size: - +

Engineering and construction group Murray & Roberts (M&R) reported a strong rise in its order book to R46.8-billion, a 55% increase when compared with its order backlog of R30.1-billion reported a year ago.

The increase, the company said on Wednesday, was underpinned mainly by new orders placed with its oil and gas platform.

The company also reported “near orders” worth R14.4-billion, most of which were associated with its oil and gas and underground mining platforms.

Orders for the group’s power and water platform continued to decline, owing to weak market conditions in South Africa and the fact that the Medupi and Kusile power projects were nearing completion.

M&R also reported a 26% rise in attributable earnings to R337-million for the year to June 30, 2019, from R267-million in the previous financial year.

Group revenue fell 7% to R20.2-billion from R21.8-billion, while diluted continuing headline earnings per share decreased by 10% to 101c, from 112c in 2018.

Following a review of M&R’s dividend policy, the board resolved to increase the gross annual dividend for the year under review to 55c a share, up from the 50c a share declared in 2018.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 0.893s - 111pq - 2rq
Subscribe Now