Under The Radar, page-146

Fair enough, though I'm going on what I hear & also what is being said in commentary. It's no secret, that in WA in particular wage inflation is in the order of 15-20% in the mining industry. They just can't fill positions. Yes I saw NWH's results. Solid. MAH have pretty much already flagged their results so not expecting any surprises. I think it's understandable that EBIT will be stronger considering the depth of the pipeline of work industry wide. That said, many of these contracts are fixed in their pricing & that's where labour pressure is felt. Revenue gallops along but margins can get crimped deeply & quickly. Work volume outweighs & masks margin compression for now at least. I suspect that's what is currently happening.