Agree. The company mentioned before that new work is priced around 30% gross margins.
With offshore oil recovering strongly, and the prospect of significant wind projects, it’s a matter of when, not if they will reach full capacity of around $200m p.a.
There are very few competitors in this space, and barriers of entry are high. I expect profits to be significantly higher in the not-too-distant future.
MCE Price at posting:
30.5¢ Sentiment: None Disclosure: Held
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