UPDATE 1-Murray & Roberts boosts FY profit, sees more growth
(Adds details, shares)
JOHANNESBURG Aug 27 (Reuters) - Africa's biggest construction and engineering firm, Murray & Roberts (MURJ.J), reported a 69 percent jump in full-year headline earnings per share and forecast growth of 30-40 percent in the year ahead.
The company, which has benefited from an infrastructure boom in South Africa, said on Wednesday headline EPS in the year to end June rose to 550 cents from 325 cents, at the top end of its forecasts and boosting its shares 6 percent.
Revenue grew 57 percent to 27.9 billion rand ($3.58 billion), and the order book swelled 144 percent to 55 billion rand.
South African construction firms like M&R and its rivals Group 5 (GRFJ.J) and Aveng (AEGJ.J) have reaped big profits in recent years thanks to a building boom before the 2010 soccer World Cup as well as a government infrastructure drive.
The company said that despite a consumer slowdown in Africa's biggest economy due to a string of interest-rate hikes, the private commercial building sector remained buoyant, with strong demand for hotels and high-end residential developments.
Murray & Roberts, which also operates in the Middle East and works with the miners in Australia and Canada, declared a final dividend of 119 cents, making for a total dividend of 196 cents per share, 69 percent higher than the previous year.
It forecast diluted headline EPS -- South Africa's main profit gauge which strips out certain one-off, financial and non-trading items -- would grow 30-40 percent in the year ahead while diluted EPS would increase 25-35 percent.
The company will provide a business update at its annual general meeting on Oct. 28. Shares in M&R rose 5.6 percent to 1020.0 rand by 1413 GMT, outpacing a slightly firmer Johannesburg All-share index .JALSH. (Reporting by Rebecca Harrison; Editing by Quentin Bryar)
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