Ann: NRW Full Year Results Conference Call details, page-11

The next slides were followed fairly closely …
…
NB the point there’s “a lot of opportunity (in the  Pilbara? ) coming towards us”


RICHARD SIMONS

Then on to Richard’s very fluent and concise summary.
Including;
… “very strong revenue in the year, a  12.4% increase on last year as activity levels picked up.
…all of the businesses are continuing to increase their activity levels ..

…the mining business in particular made a huge amount of ground up on half year results.

The diversification of the business model is crucial to NRW. “ the real strength” Segments can cover for each other if necessary.
….
The issues of first half included;

•East coast weather​

•continued delay of awards of new projects ​

•extra costs  incurred through longer and more repetitive tendering cycles ..​

•“We were also investing in building our capacity in Primero’s North American operations and we’re beginning to see some of the benefit of that coming through “​

“So during the second half  we saw improvements in pretty much all of those conditions,  particularly weather, and pleasingly the flow of awards has commenced again and we expect that to continue through into  FY ‘24

“The other key factor in our margin performance over the course of FY’23 has been our strong commitment to disciplined and responsible pricing.
“We have said many times and we will continue to say that we will not chase margins down to win contracts, and therefore will either choose  not bid, and will walk away .. or let those opportunities go  to competitors who are willing  to sacrifice margins.”

He said this was a really strong discipline “that impacts everything we do in the business.”
Hit from Gascoyne resources and Nathan river
interest costs increased reflected rate roses on funding of new cPital expenditure…
We also took about $104m of growth capex - mining portfolio.

“very strong closing cash position…”
“a really strong result and one that we are very proud of.”