As I reflect over the past year, the last
half of which has been as
chairman, I am struck by the resilience Murray & Roberts
has
demonstrated in difficult market conditions and by the opportunities
that lie ahead.
Rebuilding Murray &
Roberts has become synonymous with
corporate transformation in South Africa. The process has
been a
challenge for all associated with its implementation.
Publication of the King
Report on Corporate Governance for South Africa 2002 and the
collapse of global companies that failed to abide by sound
corporate practices have
reinforced the message that good governance is essential for
success in today’s
commercial environment.
Murray & Roberts has
come through a difficult year impacted by
both internal and external factors. The income statement has
been
impacted by exchange rate volatility, reduced levels of forward
order book and project operating problems.
