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  • Finweek - English

    Simon’s stock tips

    Nov 05, 2021 4 minutes
    By Simon Brown

    MURRAY& ROBERTS

    US deal

    urray& Roberts* said it is buying a US construction company, JJ White, for about R430m. Murray& Roberts is paying cash. While JJWhite has averaged around $5m in earnings before interest, tax, depreciation and amortisation (ebitda) a year (around R75m), this purchase is about expanding Murray& Roberts’ energy, resources and infrastructure business in the US with new work boosting future profits. Currently, Murray& Roberts only has a presence inTexas and the new business operates in 11 states and has licenses to operate in a further11. With President Joe Biden’s administration wanting to pass an infrastructure bill worth trillions of dollars, this could become a major profit centre, but it’s not without risk. The US is a hugely competitive market with many global companies vying for the same

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