We have experienced an unbelievably busy time over the past few months as many aspects of the critical changeover between Rebuilding and Globalising Murray & Roberts have taken effect.  This is not a short duration event, but will be an extended process over the year ahead where both strategies hold equal importance in our executive and corporate lives.
 

In this edition of Robust you will read about some of the initiatives being engaged through this period of transition.  The executive landscape changes regularly as new leadership capacity joins our team for the future and existing management takes on new challenges.  We have also commenced a significant realignment in some of our operations that will cater for changed dynamics in our markets or establish enhanced performance capability.

We announce our results for the year to 30 June 2004 at the end of August.  It has been a difficult year with both internal and external factors having conspired to frustrate our commitment to sustainable earnings growth and value creation.  We have exercised more discipline in tendering the market and our order book is lower as a consequence.  We have been disappointed when we have missed an opportunity we wanted and frustrated when major projects have been continuously delayed.

But there are major projects in the pipeline and we have mobilised the best in our people and partners to improve our chances of success.  Now is the time to hold our nerve and believe that our reputation and competitiveness will counteract a common tendency in some of our markets where the current job is seen as the last opportunity on earth.

The next edition of Robust will carry more news and details on some exciting developments that are near conclusion but too early to share.  We take this opportunity to welcome the people, clients and suppliers of Cementation in both South Africa and Canada to our family.  

Brian Bruce
Group chief executive
Murray & Roberts