why is the cash $100m? construction companies that are listed put of paying suppliers at end of financial year and move it into next year to make their balance sheet look better than it is.
It looks like I was right about how no major projects are coming up given the revenue is stagnant.
I imaging the earnings may turn to losses very soon. Look at what happened with Macmahons in 2008/09/10. These companies tend to slowly release the full extent of the issue. I use to think it was because management are liars but with retrospect I think it is because everyone within a construction company tries to make out like it is just a little better than it is. By the time this reaches the top it sounds a lot better than it is.
Ann: NRW Holdings Operating Update, page-12
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