Thanks @mikalee - appreciate your comments and thoughts.
Will be very interesting to see what progress VRS are making on survey margins when they next update the ASX. To me the previous Ann’s had the flavour of a bit of uncontrolled/poor internal behaviour. My reading between the lines was that perhaps systems or people weren’t costing projects properly ... or they were driving towards revenue growth performance targets (bonuses?) with no regard to profitability. My suspicions were led by the Ann of the Directors getting directly involved in tenders. Whatever the cause - they’ve certainly recognised their mistake.
Therefore, hopefully for VRS, your business and others - they’ve got this under control now. I hope you’re wrong when it comes to increasing prices on those big projects (but certainly not suggesting that you are).
Some interesting articles on the squeeze of construction resources (people and materials) since the Fed’s started the push towards stimulating the economy (links below). Hopefully this helps lift margins too.
