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Murray & Roberts cautions shareholders

May 08 2017 16:13

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Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - Murray & Roberts [JSE:MUR] advised shareholders on Monday that the results for the financial year ending June 30 2017 will also be impacted by additional costs, not accounted for in the interim financial results.

It is associated with the completion of the remaining four building projects in the Middle East, scheduled to be completed by the end of the 2017 calendar year.

Accordingly, shareholders are advised that Murray & Roberts expects basic earnings per share (EPS) and basic headline earnings per share (Heps) for the financial year are expected to be more than 20% lower than the basic EPS of 189 cents and the basic Heps of 158 cents reported for the previous comparative reporting period.

In November last year and February this year the company advised shareholders that earnings for the financial year 2017 were expected to decline when compared to the financial year 2016, mainly due to persistent low energy prices and difficult trading conditions.

A further trading statement will be released as soon as there is a reasonable degree of certainty as to the likely range within 20%, by which the company's EPS and Heps are expected to decrease.

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