South Africa's M&R sees lower 2017 earnings as oil clients cut back

By Nqobile Dludla JOHANNESBURG (Reuters) - South African engineering and building group Murray & Roberts expects earnings to fall further in its next financial year as clients in the energy industry slash expenditure to cope with low crude prices, its CEO said on Thursday. Like its peers, Murray & Roberts is battling a market hit by a commodities price rout that has seen producers in the mining and oil and gas sectors cut spending and projects. The oil and gas division is the largest div