Cheer up everyone. A bad day on the stock market today but take a look at BLY's peer McMahon (MAH). They just had their AGM today and have announced a much improved outlook and this would equally apply to BLY.
Well worth reading the whole of the announcments on MaH as they pertain to the outlook for the industry that BLY is in but for those too lazy I quote a bit from the CEO address as follows...
(from N Bowen address to shareholders)...
"Importantly, tendering activity is presently very strong across all areas. In fact, the increase in tendering activity has surprised us, both in its quantity and speed. Looking back six months ago tendering activity for Government infrastructure works was still high, but work within the resources sector had dried up.
The picture today is vastly different with resource activity picking up and importantly, this increase is being seen across almost all commodities. In fact, we are busier with tendering now than we have been at any time in the past two years."
BLY Price at posting:
$3.05 Sentiment: LT Buy Disclosure: Held