I'm afraid we're being weighed down by our property write downs & market sentiment. I agree that construction margins have tightened considerably & unfortunately all our new work will be on very slim margins where a large portion of our order book was on healthier margins but a lot of those are at or nearing completion - MCA opens this week for example.
Our near term growth area is mining services & engineering. The only problem with that is the big boys toys you need for that are very expensive & where do we get the money from to finance them?
I think this demonstrates that not just Big Kev needs to go (not just as chairman) but several of the board need to join him at the exit & new blood infused on the board that is more attuned to this growth sector & better credentialed for these times.
WTP Price at posting:
$1.08 Sentiment: ST Buy Disclosure: Held
