M&R expects more than 50% increase in FY18 earnings

Engineering and construction group Murray and Roberts (M&R) expects to report diluted headline earnings per share (HEPS) from continuing operations of between 110c and 114c for the financial year ended June 30.

This represents a 53% to 58% improvement on diluted HEPS of 72c reported for the 2017 financial year. Diluted earnings per share (EPS) for continuing operations are expected to be between 131c and 137c, an improvement of between 77% and 85% on the 74c reported for the prior financial year.

Basic HEPS are expected to be between 112c and 116c, an improvement of 51% to 57% on the 74c reported for the prior comparable period, while basic EPS should be between 134c and 140c, a 76% to 84% improvement on the 76c reported in the prior year.

Diluted HEPS for continuing and discontinued operations are expected to be between 44c and 48c, an increase from the 26c reported for the prior year, while EPS should be between 63c and 69c, up from 12c in the prior year.

Basic HEPS are expected to be between 45c and 49c, an improvement from 27c in the previous comparable period, while EPS are expected to be between 64c and 70c, up from 12c in 2017.