M&R RE­PORTS A R58.4BN QUAL­ITY OR­DER BOOK

Pretoria News - - BUSINESS REPORT - | Edward West

MUR­RAY & Roberts (M&R) said yes­ter­day that it had a qual­ity or­der book of R54.8 bil­lion, with near or­ders of R5.1bn as at Oc­to­ber 31, while its New Strate­gic Fu­ture plan was gath­er­ing mo­men­tum and bear­ing re­sults. This was ac­cord­ing to a busi­ness up­date pro­vided at the annual meet­ing yes­ter­day. “The group is con­fi­dent that its growth plans over the medium term are achiev­able and it has the nec­es­sary fi­nan­cial ca­pac­ity to sup­port these plans,” the group said in the up­date state­ment. Fol­low­ing sev­eral ac­qui­si­tions the prior fi­nan­cial year, the 2020 fi­nan­cial year would be one of con­sol­i­da­tion for all three busi­ness plat­forms, with the fo­cus on grow­ing the or­der book and on suc­cess­ful project de­liv­ery. The group aimed to be con­sis­tent in declar­ing div­i­dends, as it had done over the past five years. The Un­der­ground Min­ing plat­form con­tin­ued to per­form well. The Oil & Gas plat­form was re­cov­er­ing from a low base and client time frames for the award of new projects con­tin­ued to be highly vari­able. The Power & Wa­ter plat­form or­der book re­mained sta­ble, but it would take time to re-es­tab­lish the busi­ness post com­ple­tion of the Medupi and Kusile power projects. M&R said it did not agree “in many re­spects” with the anal­y­sis, con­clu­sions and rec­om­men­da­tions in a De­part­ment of Labour re­port from the in­quiry into the Grayston tem­po­rary works col­lapse. The de­part­ment’s pre­sid­ing in­spec­tors had made find­ings re­gard­ing al­leged trans­gres­sions of health and safety statu­tory obli­ga­tions by var­i­ous par­ties, in­clud­ing M&R Con­struc­tion, a for­mer sub­sidiary of M&R.

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