M&R expects renewables projects to breathe life into struggling South African unit

Engineering and contracting group Murray & Roberts (M&R) says its Southern African-focused business platform, which has shrunk materially and has been lossmaking for a number of years, is at the point of a “breakthrough”, underpinned by South African renewables and transmission activities that are starting to gain momentum. Known as the power, industrial and water platform, the unit is the smallest of the JSE-listed group’s three platforms by far and is also the only one leveraged entirely to project activity in M&R’s home market of South Africa and to the Southern African region.