National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Murray & Roberts Turnaround to deliver interim profit

February 22 2013 at 08:00am
By Roy Cokayne

Comment on this story

Murray & Roberts would report an improvement in performance and a return to profit in the diluted earnings metric for the six months to December, the construction and engineering group predicted yesterday. The company expected to post diluted headline earnings a share of between 64c and 74c for the first half of its current financial year, a significant turnaround from the diluted headline loss a share of R1.90 for the six months to December 2011. Diluted earnings a share for the period were expected to come in between 59c and 69c compared with the R1.61 diluted loss a share a year earlier. In the previous interim period, Murray & Roberts was knocked by continuing challenges on the Gorgon Pioneer materials offloading facility project in Australia. It narrowed its attributable loss to R528 million in the six months to December 2011 from R636m a year earlier as it took further cost provisions of R600m for the completion of the Gorgon Pioneer facility. The recovery gathered steam as the headline loss a share halved to R2.46 in the 12 months to June last year from R4.54 in the previous year. The group will publish its interim results on February 28. The shares closed 0.57 percent lower at R24.50. – Roy Cokayne


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku