"In the middle of difficulty lies opportunity” -> As per today's...

"In the middle of difficulty lies opportunity”

-> As per today's presentation, a key FY15 strategy is to build out the Europe service offerings, just as they have done in America, in order to "Improve Europe annuity revenue base to absorb the downtime between large projects"

It was unfortunate that 3 large European projects all finished at the same time. However, there is a
strengthened pipeline in European business with five large opportunities nearing commencement (two expected in September/October).

If they can develop their Europe annuity revenue and cross sell other services (as per the Americas) then Europe revenue will become less and less lumpy.....obviously this is an "if", and not a good idea to invest on hope, but the fact that they have succesfully built out their US offerings, suggests that they should be able to do the same for Europe.