Hopefully that's how it plays out. My fear is that we're caught in a value trap whereby the more contracts they (MacMahon)win, the more capital investment they make, until one day everything comes to a shuddering halt and we're left with large debts to service on equipment sitting idle. It might be that this company is best as an investment as a counter cyclical play: ie money is best allocated here when nothing's happening in the sector because it runs higher on anticipation of earnings than when they actually occur. Time will tell.
Reaper
Ann: Macmahon FY21 Investor Presentation, page-11
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