MURRAY AND ROBERTS EXPECT HIGN SHARES (13-07-07)

MURRAY and Roberts Zimbabwe’s holding company, South Africa's construction group Murray & Roberts expects headline earnings per share for the year to end-June to rise to 70-80% over adjusted headline EPS for the comparable period in 2006, it said today (Thursday July 12).
The group sai

d its project order book at end-March 2007 increased to R17,5 billion from R15 billion at end-2006 and R10 billion at end-June 2006.
Murray and Roberts group chief executive Brian Bruce said on Monday that the company has reorganised leadership responsibilities in the run-up to the Soccer World Cup 2010, adding that critical areas of the Gautrain project should be ready in time for the tournament.
He said Murray and Roberts had been preparing for some time, and after a very bullish statement by President Thabo Mbeki last week the company decided to announce its plans and key changes in project leadership around the event.
Bruce said high levels of corporate leadership will be needed on these projects, which will be hugely beneficial to the construction industry.
“From research done at the Olympics and World Cup, it is evident that the primary beneficiaries in the lead-up to these events are construction companies,” said Bruce.
“After the very bullish statement of President Mbeki last week, we have decided to also announce what we have been doing and that we have reorganised certain responsibilities as these projects require high levels of corporate leadership,” said Bruce.
“Gautrain is the biggest, and the critical areas like transport from the airport should be ready,” he added.
Murray and Roberts announced that group executive director Sean Flanagan will assume corporate responsibility for the delivery of designated major construction projects, particularly those associated with the World Cup. These include the infrastructure delivery and systems integration of the Gautrain project.
“Sean maintains his responsibility for corporate oversight of SADC [Southern African Development Community] mining contracting and RUC Australia,” the company announced on Monday.
Group executive director Keith Smith will assume corporate responsibility for the management oversight of all SADC building and construction companies as chairperson, relinquishing his current construction-materials responsibilities over the next six months.
It was also announced that Edwin Hewitt, a director of Murray and Roberts, will assume full executive responsibility for engineering companies Murray and Roberts MEI, Murray and Roberts Marine, Hall Longmore, Genrec and The UCW Partnership. The group said he will remain MD of the Foundries Group pending its disposal.
Malose Chaba, a director of Murray and Roberts and MD of services contractor Murray and Roberts Engineering Solutions, will continue to lead the group’s engagement of the largely private-sector industrial and minerals beneficiation markets.

TEDCO Limited which recently bought itself out of its partnership with Steinhoff SA has resolved to increase its authorized share capital.
The move was seen by analysts as a strategy to fund the business in future with cheap funds given the non-interest bearing nature of equity capital and less incidence of dividend declaration on the company.
Tedco Limited shareholders ratified the special resolution proposing to increase the company’s authorissed share capital from $200 000 being 200 million shares of 0,10 cents to $300 000 through the creation of an additional 100m with a nominal value of 0,10 cents.
The company currently has 143million shares in issue. It registered a $402,99 m PAT in the final year ending December 31 2006 with an Earnings Per Share of $2,81.

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