Pioupiou all sounds good in theory however I think high highly unlikely he will allow you to "run you eye over BYL" in any sort of intimate way
I am pretty sure they are being "thrifty" in their purchasing practices however the biggest issue they have is the following
PRODUCTIVITY is the key to making money in contracting. Its pointless tendering & winning a job and then not follow up to ensure site operations are working to productivity timetables. Unfortunately I think this is their biggest down fall. Some of the issue also is they are winning small jobs against small contractors ( in that price bracket) but have enormous internal compliance, rules and regs etc. They have to a point turned themselves into a Leighton style company but are still tendering and winning small private contractor jobs. You will never make money doing this. They are also using a lot of owner operator subbies which is generally a good thing, you tend to get skilled people who know what their doing however stringing out their payments to extraordinary lengths is not conducive to high productivity
Pointless turning over a bomb and making next to nothing. IMO they should significantly reduce the business, overheads and personnel and get back to a few jobs at once that match their capabilities and focus 100% on them. Get rid of a lot of the existing dead wood, flash South Perth offices and fat cats and concentrate on a few jobs and doing them right.
And maybe retuning something to the shareholders????
BYL Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
