Only negative is the need to reinstate the Primero results in FY22 - highlights the challenges this part of the business faces. Again i reiterate that on a stand alone basis I don't like the Primero business model - too little margin for too much risk imo on a stand alone basis. However if it also is a feed engine in bringing in mining or civil business, then that's more palatable to me.
This is a growing business, with a solid order book and outlook - in the low growth world we are in today, they has to be attractive one would think. Franked yield must also be attractive as well.
Ann: NRW Full Year Results Presentation, page-2
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