Murray & Roberts shares fall after bridge collapse
BY AGENCY STAFF, OCTOBER 14 2015, 19:55
MURRAY & Roberts Holdings’ shares fell the most in more than four-and-a-half years after a bridge being built by SA’s second-biggest construction company collapsed over a highway that feeds Johannesburg’s financial district, killing two people and injuring up to 20 commuters.
The stock dropped 7.3% to R11.15 at the close on the JSE — the most since February 2011 — extending its decline for the year to 48%.
"Murray and Roberts has got a contract to build a pedestrian bridge over the highway," spokesman Ed Jardim said by phone on Wednesday. "What has collapsed is the temporary formwork."
According to reports, the scaffolding and parts of a bridge under construction at Grayston Drive collapsed on Wednesday afternoon.
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