Ann: Half Year Accounts, page-4

sounds lovely. 

I think you’re right, it’s just lumpy revenues. Again might be project costs artificially low due to the backing out of the provisions. Certainly smoothed the profits as you said and delayed the tax payable which I like to see. 

The 15c dividend shows they’ve got confidence in the business. I know it’s a poor representation but I follow the seek ads and lycopodium seem to be hiring a lot. The labour issue foreshadowed by mnd will also be interesting and I think/hope lyl are ahead of the curve. 

not sure how the market will take this result but I suspect taking another year or two view and the volatility should abate.