Riskup BYL could run, but not soon, IMO. One would need to know...

Riskup

BYL could run, but not soon, IMO. One would need to know some facts to build a bottom-up valuation, which I for one have not done in recent times. A difference between BYL and NSW, but not the only difference, is that NWH has for years been a well run company, and it substantially came unstuck via one less-than-ideal customer, Samsung - a black-swan event that one can forgive, and from which NWH can recover.

BYL has not been as well run, as its NPAT margin over many years shows. Its high administration costs suggest there is fat there that was not trimmed for years. BYL's recent black-swan event, the loss on the North West Coastal Highway contract, was occasioned by a BYL-made quoting mistake, not by any delinquency on the customer's part. BYL has the potential to be turned around by the new CEO, but it will take time to see the fruits of his stewardship.

Also, I have failed to see any evidence of a positive contribution from the Chairman, Dalton Gooding. He might be too busy to focus on BYL. Apart from being the chairman of West Coast Eagles, he is a principal in the accounting firm Gooding Partners, and Wikipedia lists the following twenty five board positions that he holds:

1. Anatolia Energy Ltd ........ Board Member
2. Brierty Limited ........ Chairman
3. Avita Medical Ltd ........ Chairman
4. Crosby Tiles ........ Board Member
5. Dental Manufacturing SPA (Italy) ........ Board Member
6. Elkington Bishop Molineaux Pty Limited ........ Board Member
7. Gateway Capital Ltd ........ Chairman
8. J H Wilberforce Pty Limited ........ Chairman
9. Katana Capital Limited ........ Chairman
10. Lignor Ltd ........ Board Member
11. Perth Investment Corporation Limited ........ Chairman
12. RAC Finance Pty Limited ........ Board Member
13. RAC Holdings Pty Limited ........ Board Member
14. RAC Insurance Pty Limited ........ Board Member
15. RACWA Inc Board Member
16. Ronald McDonald House Perth ........ Chairman
17. Ruthinium Dental Products (P) Limited (India) ........ Board Member
18. Ruthinium Group Pty Limited ........ Chairman
19. Service Finance Corporation Ltd ........ Chairman
20. St John of God Health Care National Governing Board ........ Board Member
21. Sunlec International Pty Limited ........ Board Member
22. SIPA Resources Limited ........ Board Member
23. St Ives Group Pty Ltd ........ Board Member
24. Triumphant Nominees Pty Ltd ........ Board Member
25. Watermark Enterprises Pty Ltd ........ Board Member