That document is an interesting read. Most notably
"When I introduced the concept of a national surveying consolidation to the board and Managing Director (MD) of Veris (then
OTOC) in 2013, I envisaged the creation of a business characterised as pre-eminent in the surveying sector, with national tier
one clients, employing the best human capital, doing the most complex and high value added work, delivering sustainable
revenue and earnings with market leading financial performances (20% + EBITDA’s) and hence rewarding all stakeholders. "
This certainly was what they were aiming for its just they botched the execution. I understand it was the same strategy that was sold to the partners of the firms they bought and the bulk of them took script and many I imagine are still shareholders. It was certainly achievable. I think it is still achievable, not as easily as it was as they have lost plenty of high margin clients and are locked in on a good chunk of low margin work. I suspect it would be 1-2 years of stabilizing and then years 3-5 the returns would start appearing.
Interesting times.
I hope whoever gets up delivers the above.
(20min delay)