interim results, page-7

Results are (fortunately) very close to what i predicted/expected. Initially i was alarmed by the 50% drop in margins then realised that MAH have included the costs of 2 large construction projects into this half..... but have not yet been paid. margins on mining work remain the same and i am not concerned. The rain is affecting some MAH work in N. QLD can't be helped.
The most encouraging bit for me is that MAH mining clients are literally the biggest around. In addition MAH remain very confident of getting increasing share of govt roads/rail/port work over the next few months.
Short sellers will crucify SP today (as you can already see). Me.... i'll hold knowing better days are not far away.
MAH are cutting capital costs and overheads. Expect to see these strongly reduced in FY09 in august. If it touches 32c i'll be buying more.