I think your model is a bit more sophisticated than what I did this morning - thanks for sharing! Glad it comes to same conclusion - VRS looks like a bargain!
Beyond FY19/consolidation, there is a massive infrastructure boom across Australia (East Coast transport and mining in WA). There are some good strings with details under NRW if you're interested. Yesterday's Vic Govt announcement re: metro rail just added another $11B and stretched the boom out further. Yes - it might not get built, but the VRS's work isn't limited to the building ... they also provide services for feasibility studies.
SP will be interesting the next few days as analysts digest and start advising their clients.
VRS Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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