M&R gains on update

Murray & Roberts advertising board.

Murray & Roberts advertising board.

Published Dec 8, 2016

Share

Pretoria - Murray & Roberts (M&R) shares rose 1.19 percent to close at R11.08 on the JSE on Wednesday after the group reported that both its basic earnings a share and headline earnings a share for the six months to December were expected to be more than 20 percent lower than in the previous corresponding period.The listed construction and engineering group said on Wednesday that its headline earnings a share were expected to decline by at least 17.8 cents in the six months to December from the 89c reported in the previous corresponding period.

Basic earnings a share were expected to drop by at least 18.8c from 94c in the same period.

Read also:  M&R: R1.3bn to be paid in Gautrain dispute

M&R referred to its business update released early last month in which it warned shareholders of an expected decline in operating earnings for its 2017 financial year compared to the previous financial year.

It said then that this was mainly because of persistent low commodity and energy prices, with a major impact expected in the group’s oil and gas platform.

 M&R said it expects to publish its interim financial results on February 23. 

BUSINESS REPORT

Related Topics: