Well the downgrade items seem specific to this financial year - at least so far. They have quarantined the accounting issues now by the sounds of things, and they cost an extra $9m above the 30-40m guidance if my sums are correct - using 30% tax. Bad news - but DOW is priced at about 12 x NPATA guidance. And sounds like FY24 not impact by these current issues, or even improved in the case of NZ.
They have the big train contract coming most likely. They have added an extra 1.7b of work in hand. They seem to have inflation mostly factored in to contracts. Seems they are in a good position to take part in electrification. They also are expecting to have $100m in extra cost outs for FY25.
So bought in again - will soon see what happens!
amazing goblin goes nude for bull dance, page-102
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