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MONEYWEB app instead? M&R receives R285m Gautrain business disruption insurance payout Groupâs investment in concession company and the fair value adjustments it does on the investment are âvery much linked to ridershipâ â which has plummeted. 00:01 Open: Passenger numbers plunged from 55 000 a day pre-Covid-19 to as low as 6 000 last year, rising to around 13 000 currently. Image: Nadine Hutton/Bloomberg JSE-listed multinational engineering and construction group Murray & Roberts (M&R) has successfully finalised a Gautrain business disruption insurance claim and received R285 million because of the low ridership levels on the Gautrain caused by the Covid-19 lockdown. M&R CEO Henry Laas said the proceeds from the claim were used to repay some of the high-interest debt in the Bombela Concession Company (BCC). ....
MONEYWEB LIVESTREAM But only one of the huge contract awards has been announced. 00:01 Open: On the mend. Image: Moneyweb JSE-listed engineering and construction group Murray & Roberts (M&R) could see its order book grow to about R80 billion by its financial year-end in June. This is further good news for the group, following it reporting in March this year that it reached a record order book of R60.5 billion at end-December. INSIDERGOLD Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process. SIGN UP To view all features and options, click here. ....
MONEYWEB app instead? Anticipates a strong return to profitability in its 2022 financial year. 00:01 Open: The group has completed its construction work on the Medupi (pictured) and Kusile power stations. Image: Supplied JSE-listed engineering and construction group Murray & Roberts (M&R) believes its record order book of R60.5 billion at end-December 2020 could grow by about 32% to about R80 billion by end-June 2021. M&R CEO Henry Laas said on Thursday the group believes it is well positioned for a strong return to profitability in its 2022 financial year and expects further growth in earnings thereafter. Growth in earnings will largely come from the groupâs energy, resources and infrastructure (ERI) and mining platforms, he said. ....
MONEYWEB app instead? Group is repositioning itself to focus on industrial equipment and services, and consumer industries. 11:01 Open: Analysts are uncertain about the prospects for JSE-listed Barloworld under its new strategy. Barloworld is set to exit its automotive and logistics businesses as it aims to sustainably double its intrinsic value every four years and position the group as an industrial processing, distribution and services company with two focus areas: Industrial equipment and services, and Consumer industries focusing on food and ingredient solutions. Barloworld CEO Dominic Sewela said at the groupâs most recent financial results presentation late last year the acquisition of Tongaat Hulett Starch and the expansion of its Russian equipment business with the acquisition of Wagner Asia Equipment in Mongolia anchors the group clearly in terms of industrial capital distribution goods and related services, and also anchors ....