February 28, 2018 / 2:10 PM / 10 months ago

South Africa's Murray & Roberts interim profits more than double

JOHANNESBURG, Feb 28 (Reuters) - South African engineering and construction group Murray & Roberts said interim profits more than doubled on higher earnings from its underground mining activities and reduced loss from the sale of its Middle East business.

Headline earning per share (HEPS), the main profit measure used in South Africa, rose to 55 cents per share for the six months ending December 2017, compared to 27 cents for the same period the previous year.

The company disposed of its loss making Middle East business last year after selling its infrastructure and building unit to Firefly Investments.

The company said it would consider paying an annual dividend with a cover of between three and four times earnings as per their dividend policy. (Reporting by Tanisha Heiberg Editing by Edmund Blair)

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