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clock Created with Sketch. 02/09/19
11:03
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Originally posted by stockspec:
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This result isn't as bad as I thought it might be. The thing that this company needs to do is stop empire building and get back to their daily knitting for a while. Adam Lamond should be ok in overseeing this as he knows the company well enough and for long enough. It is easy to have short memories and focus on the last year but the margins of the surveying business has been 17.0% (2016), 14.1% (2017), 13.4% (2018) and 6.2% (2019). If you take a look at the two halves for 2019 you will notice that margins of the surveying business have improved from 5.3% (first half 2019) to 7.2% (second half 2019). Revenue in the second half was down marginally.
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The result is bad! Revenue in the current economic climate will fall! A lot of the large infrastructure projects are coming to an end, which will mean revenue streams will be hard to replace.
(20min delay)