So CDD is still going to make a NOPAT of about $18m for H2. So maybe we are annualising that to $36m for the sake of numbers. So about 22 cps at somewhere around a cyclical low. So at about 11.5 x H2 NOPAT x2. Could be far worse.
Writedowns were due!
Ann: Cardno FY15 Guidance and Market Update, page-4
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