Dear All – Just in case you bought Multiplex the other day on...

Dear All – Just in case you bought Multiplex the other day on the fall…..the UK press is ripping into the stock. One of my contacts reports the UK’s Sunday Express (not exactly your top quality business rag) suggesting that the cost overruns on the Wembley project may run to over $150m pounds or A$272m. They told us last week that the losses would be $109m. The Sunday Express cited an unidentified independent engineer involved in the project. We are hearing the same thing anecdotally from people in the company. The stock was down 8c to 265c on Friday. True or not….this sort of story is going to stop the stock dead in its tracks until the uncertainty is cleared up.

article from Marcus I believe!

Regards