Ann: Becoming a substantial holder , page-3

For those interested, recent press in The Australian (18 July) shines a very promising light on HST. Link can be found here.

A few interesting excerpts:

As a result of the downturn, the company has recently undergone a substantial transformation. For example:

"There have been senior management changes, a much stronger focus on cash management, with weekly forecasting and monitoring, and a significant strengthening of risk management review processes and budget and forecasting disciplines."

Certainly plenty of income generation to come:

"That said, the group still had $2.7 billion of work-in-hand at April 30, covering 80 per cent of expected 2012 revenue."

Also plenty of room realised for growth in various sectors, for instance:

"The maintenance business, for example, was the biggest in Australia and New Zealand, but its market share was only in the 8-10 per cent range. "There are additional technical services that we can provide, like plumbing, building control and lift services," Harris says.

In addition to today's announcement of a new substantial holder, Lazard Australia also saw substantial value in its new Hastie Group investment.

"Lazard Australia had agreed to invest up to $50m for a holding in the range of 16-25 per cent. The introduction of Lazard, which did full due diligence, was pivotal, because it sent a powerful signal to other investors, as well as Hastie's banks."

And, this one just about sums it up beautifully! Hastie Group has...

"tremendous short and medium term growth opportunities."