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Strategy

WE’RE BUILDING TO LAST – FROM SHORT-TERM RECOVERY TO LONG-TERM GROWTH

Taking the helm in FY2012, the current leadership team at Murray & Roberts implemented a three-year strategy for Recovery & Growth. The strategy aimed to arrest the underperformance of the preceding years, stabilise the organisation, restore trust in the Group's leadership and prospects, and build a strong foundation for the future. This intent was captured in the slogan "We build to last", which also spoke to the Group's purpose the delivery of infrastructure, which over the long term enables social and economic development, and to do this in a sustainable way.

The objectives of the Recovery & Growth strategy were substantially achieved at the end of the 2014 financial year ("FY2014"). This has allowed us to look further forward, specifically to realising our refined 2020 vision to be a leading international diversified project engineering, procurement and construction group in selected natural resources and supporting infrastructure sectors and to the New Strategic Future for the Group. Underpinning this shift in strategic focus from short-term remedy to value creation over the longer term, is the concept of "Engineered Excellence", which we have adopted as our guiding principle in everything we undertake as we begin to implement our new strategy.

The performance dimensions necessary to realise our vision have been clearly defined and have been incorporated into the performance contracts of Group leadership. The charts below illustrate the progress we made in FY2014 in relation to each of these performance dimensions, and outlines our plans to achieve sustainable profitable growth as an international engineering and construction firm known for excellence.

PERFORMANCE DIMENSIONS

FINANCIAL
PROFITABILITY 85%
CASH FLOW 80%
RETURNS 90%
LEADERSHIP
STRATEGY IMPLEMENTATION 90%
TRANSFORMATION AND DIVERSITY 60%
LEADERSHIP SUCCESSION AND DEVELOPMENT 75%
RELATIONSHIP
STAKEHOLDER ENGAGEMENT 80%
EMPLOYER OF CHOICE 85%
OPERATIONAL
GOOD GOVERNANCE 90%
COMMERCIAL MANAGEMENT 75%
RISK
HEALTH AND SAFETY 70%
ENVIRONMENT 70%
RISK MANAGEMENT 80%