Message from the CE

Dear Readers

This issue of Robust accompanies our interim results for the period to 30 June 2008. And what a set of results they have turned out to be. Everything that all of you have done over the past number of years, on top of the great company that Murray & Roberts has been for the past 106 years, has culminated in what is a truly outstanding performance over the half-year.

The Group is now well positioned in all its markets and we have built a formidable order book valued at R38 billion, with a tail stretching to 2015. Remember that just three and a half years ago at 30 June 2004, our order book stood at R3 billion. All the work that has gone into performance delivery and market engagement, plus the many benefits derived from our key acquisitions, has changed the scale of our business.

Order book is the lifeblood of a contracting organisation. And quality of order book is what makes the difference between existence and true value creation. We set a clear strategy to position our Group at the top end of the major project market in all our operations. I am pleased to report that we have been successful in procuring some of the key major projects that have entered our environment over the past few years.

The best news for now, however, is that we have successfully delivered on the accelerated schedule at Dubai Airport Concourse 2, our first really major project at this time, valued in excess of R7 billion.

The performance of Bruce Neave and his team has been outstanding and sets a benchmark for all future major project team deliverables in the Group.

For now in South Africa, we are very focused on the power generation sector for significant long-term opportunity in our home market. We have already secured a significant mechanical and structural workload in the thermal sector and have recently submitted a tender proposal for the proposed nuclear generation program. Of course, the Group is already involved in the Pebble Bed Modular Reactor development.

And as I often say, we have no laurels to rest on, the world is always in a state of change and drawing from a well known concept, we only borrow the Group from our predecessors and build it for our successors.

Brian Bruce