The unfortunate reality is that one (or in this case many) can...

The unfortunate reality is that one (or in this case many) can only squeeze so many efficiencies out of an operational model where every single project is unique. It's not like they are making bread in a closed environment. There are numerous moving parts and every project requires its own solutions and carries with it its own risks. And this is extrapolated over the entire operation. The consolidation model doesn't always bring further efficiency. They are in a little bit of a bind as it would appear they pushed their revenue growth strategy (especially in Sydney) by securing large long term contracts on very very low per hour rates on their field staff which are locked in. And likely without any year on year in built growth to those rates. So it would appear that this is the wash through. Unless their underlying rates are lifted significantly on new project contracts there won't be any correction in this ship. The fundamental business principle of charging more per hour than what it costs you doesn't require a board or management team with Survey expertise. That isn't a 'survey' issue. What would be crazy and even more detrimental to Veris and its shareholders is if they continue with the same lets win at any cost (buying jobs) mentality in pursuits of other major projects in their WA and QLD regions so they can continue to grow their revenue targets in these regions. Revenue is irrelevant if the underlying profit doesn't exist because it costs you more to do the work than you decide to charge.