If you want to look at a bit of reality, ITG are the...

If you want to look at a bit of reality, ITG are the infrastructure linked part of the business that was flogged off. They are trading at a touch over 50 cents and will gain the most in an infrastructure spend recovery.

The Cardno business in an environmental business in the US and is certainly a good part of the operation. The Australian arm isn't worth anything, it is basically a land development business, which is super competitive and return business is tough. They make very small margins.

I personally think ITG represents far better long term value than CDD but hats off to those that have done well out of this stock.