Revenue
EBIT
R millions
2004
2003
2004
2003
GROUP
8 424
10 111
421
633
CONSTRUCTION ECONOMY
7 164
8 319
451
603
Construction & engineering
4 153
4 936
177
315
Construction
3 022
3 591
83
176
Engineering
651
800
81
103
Mining
480
545
13
36
Construction materials & services
3 011
3 383
274
288
Steel
1 956
2 358
113
167
Infrastructure
737
634
134
92
Services
318
391
27
29
FABRICATION & MANUFACTURE
1 259
1 762
70
125
Automotive
501
673
39
52
Transport
572
818
28
62
Services
186
271
3
11
Corporate
1
30
(100)
(95)
The following tables are offered for information only and have not been audited.
They indicate what the pro forma effect would be on the Murray & Roberts financial statements for the year to 30 June 2004,
assuming a sale effective 30 June 2003 of the Group’s associate investment in Unitrans and the acquisition effective
1 July 2003 of 100% of Cementation and the initial 30% in Clough.
INCOME STATEMENT
As reported
Unitrans1
Cementation
Clough
Pro forma
Revenue
8 424
1 793
10 217
EBIT
421
38
459
Interest
10
73
(20)
(8)
55
EBT
431
73
18
(8)
514
Tax
27
22
6
55
EAT
404
51
12
(8)
459
Associate
114
(114)
23
23
Minorities
(25)
(25)
Exceptional
(9)
384
375
Attributable
484
321
12
15
832
Diluted headline earnings (cps)
155
(21)
4
5
143
BALANCE SHEET
As reported
Unitrans1
Cementation
Clough
Pro forma
Assets non-current
2 391
(653)
176
376
2 290
current
3 666
999
148
(361)
4 452
Liabilities non-current
(580)
(20)
(600)
current
(2 816)
(25)
(292)
(3 133)
Permanent capital
2 661
321
12
15
3 009
Net asset value2 (cps)
785
96
4
5
890
1Based on sale of shares at 2771 cents per share (cps)
2Based on ordinary shareholder funds
Segmental Analysis
Globalising Murray & Roberts
