Murray & Roberts returns to profit

By Sarah Ann McCay28 February 2013

South African contractor Murray & Roberts has announced a return to profitability with its interim results for the six months ended 31 December 2012.

Attributable earnings for the period stood at ZAR 262 million (US$ 29 million), an improvement on 2011’s loss of ZAR 528 million (US$ 58.5 million).

Revenues were ZAR 16.3 billion (US$ 1.8 billion) compared with ZAR 15 billion (US$ 1.6 billion) for the six months to December 2011.

Group chief executive Henry Laas commented: "We are pleased to announce that Murray & Roberts has returned to profitability and has begun implementation of our growth strategy, which will better position Murray & Roberts to sustain growth and profitability in the medium to long term with the aim of enhancing shareholder value."

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