M&R warns of lower FY earnings

Owing to persistently low commodity and energy prices, which significantly impacted on its oil and gas platform, JSE-listed Murray & Roberts (M&R) expects to report a decline in operational earnings for the 2017 financial year. The company on Wednesday said its earnings would further be impacted on by the net present value charge of R170-million associated with the voluntary rebuild programme agreement entered into by listed South African construction companies and government in October 2016.