The problem was fixed price contracts in an inflationary environment. They need to change the type of contracts.
What makes this difficult for shareholders is they have given no indication of the size of losses on the 2 unprofitable contracts.
We therfore cannot work out what the profitability of the rest of the business was, or what the outlook for the ongoing business is.
Hopefully at the AGM they can be asked what the extent of the losses were on the 2 bad contracts and how big the contracts were.
The problem was fixed price contracts in an inflationary...
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