Hi Sidewinder.
You have no proof
@hicks58 is ‘just trying to get cheap shares’ and to claim such a thing without giving proper basis makes me concerned your ‘next best thing’ theme here is equally baseless.
-If so what does this mean for NRW?
What gives you confidence in THIS company above all others in the sector please?
I read that post as indicative hcks - who has been around for a long time, is rightfully concerned about the well being of ‘his’ company.
And why not?
The price is going down and we have seen useful contracts going to the competition.
And that competition is clearly tough.
For instance in the case of CIVMEC winning recent Iron Bridge work, the ‘win’ seems to have been at an ‘impossible’ margin, but as I read its’ announcement, there was much citing of potential future work opportunities at this project?
Did it undercut NRW ?
We saw Civmec take out another contract with Fortescue last year
[here].
- What does it mean when other companies starts edging in on ‘our patch’?
Also look at the troubles out there! I read a hint in an AFR story on Wesfarmers that even ‘rock-solid’ MND might be quietly for sale
Has management there got tired?
spoiler: Here is a bit from that story
What about our management?
They have fought to bring this company back from the brink twice now (you can see on the chart) .....and won gloriously !
...only to secure BGC and - having doubled in size - suddenly been smacked with CoVid issues, potential big gas contracts flying out the door and more.
NRW did NOT want
all of BGC Contracting - that was clear from the press at the time.
It had to take it as a job lot and it increased debt to do so.
We know BGC’s Pacific Highway contract was zero profit from the last financial report ... What else is not so good out there?
Plus the company has lost good men to death.
Bit disheartening, what?
These are some reasons I think Hicks’ comments are relevant
- and I do not doubt that post was shared in the interests of long term holders.
And hicks I posted another article by the same guy a while back ..I will try to find it for you.
I trust NRW management will continue to look after clients, workers and shareholders but I feel for the big guys there that they are faced with all this hard work when they should be riding on success.
But that is what life has thrown at them.
Their calibre is to take it on the chin, strategise intelligently and get on with the job in a better than expected way.
THAT is why I am still here.
Importantly I also have a low average price and have confirmation bias towards this company.
cheers
(20min delay)