From reading mikalee's reasoned and knowledgeable take on the Veris situation, I tend to agree with precis as well. The culture of any organisation starts at the top and percolates down through management and is adopted (or not) by the work force. The labour costs for the surveying business are too high and the surveying prices received for work are low, hence something has to give. In this case it is margin being squeezed. In the current economic climate it will be difficult to obtain higher fees (mikalee suggests 10% increase in revenue is needed now ) across the board so I feel margin will still be under pressure. The board and senior management has to make some tough calls.
VRS Price at posting:
5.8¢ Sentiment: Sell Disclosure: Not Held
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