M&R confirms Traveler, Waitsia projects will drag on interim earnings

A quarterly project review process by JSE-listed construction and engineering group Murray & Roberts (M&R) has found that two projects in its energy, resources and infrastructure (ERI) platform are more costly to complete than previously estimated and require certain claims-related adjustments to be made.

This will result in lower profit margins for both projects and, therefore, drag significantly on the group’s financial results for the six months ending December 31.