JSE-listed construction company Murray & Roberts on Thursday said it expected its diluted headline loss per share to improve by between 44% and 48% to between 235c and 255c in the financial year ended June 30.
Its diluted loss per share was anticipated to improve by between 57% and 61% to between 205c and 225c a share.
The company stated that following the R2-billion rights offer it concluded in April, which resulted in an additional number of shares in issue, diluted headline loss per share and diluted loss per share for the financial year ended June 2011 were restated retrospectively.
In February, shareholders approved the rights offer proposed to raise funds, in an effort to reduce the group’s debt and increase the headroom under its banking facilities. The rights offer was 2.8 times oversubscribed, as shareholders subscribed for 110 468 292 rights offer shares, equal to 97.90% of the total number of rights offer shares.
Murray & Roberts would publish its 2012 financial results on August 30.