Why do you think infrastructure is grinding to a halt? Refer to slide 12 in the presentation, infrastructure is set to peak in 2023. When business and consumer confidence is shot, that is when infrastructure spending should increase (in theory).
In the presentation they mention on page 16, "Strong focus on targeting higher value, higher margin projectswith greater technical content, including 3D spatial andgeospatial work.". On their LinkedIn page they have been posting about a number of projects. https://www.linkedin.com/company/veris-limited/ None of these projects are material in themselves but in aggregate it demonstrates some of the style of projects they have been doing of late.
As for margins improving. Let's say they are locked in for a low margin contract for 12 months (or whatever assumed timeframe), that timeframe will eventually be up and providing they aren't replacing the work with new work at the same margins (which they said they have improved the systems i.e. quoting), it follows that the percentage of new work will become larger (relative to the total) and margins increase.
VRS Price at posting:
5.7¢ Sentiment: None Disclosure: Held
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