The MD owns ~13% of the company. So hard to sack ... but at least we know his interests are aligned with shareholders.
Up until early this fin year VRS was progressing to plan. They chased surveying revenue (as was the plan) but the wheels fell off WRT surveying margins. Other parts performing well (unfortunately much smaller divs tho).
They've made changes to address margins. It's unclear how much was caused by VRS and how much was caused by the market and therefore if/when these margins can be improved to say FY18 levels (or better). So far so good during the confessional season - if we get thru June without one things should be looking pretty good for the FY19 results.
Can anyone from the surveying industry comment on industry contract pricing over past 6 months? Improved? Steady?
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