M&R holds on to shrinking South African unit amid hopes of infrastructure-led recovery

JSE-listed engineering and construction group Murray & Roberts (M&R) is “holding on” to its South African-aligned business unit that focuses on power, industrial and water despite the fact that its contribution to the group’s R54.2-billion order book has slumped to less than one percent, or only R400-million. By contrast, M&R’s energy, resources and infrastructure platform, which is headquartered in Australia, but also has global activities, reported a record order book of R34.4-billion at the end of June, which helped lift M&R’s overall order book to its highest level in 15 years.