M&R reports ‘low’ order book of R26.9bn, but says outlook more promising

JSE-listed engineering and construction group Murray & Roberts (M&R) said on Wednesday that its “low” order book of R26.9-billion was reflective of tough conditions in the natural resources markets it serves internationally. However, the company described the near- and medium-term outlook as being more promising. M&R reported lower results for 2017 when compared with 2016 and was still emerging from a major restructuring process, which included the sale of its Southern African infrastructure and building businesses to a Southern Palace-led consortium on April 1.