In terms of results, FY15 was a year of consolidation, with the more important factor being the revised direction under new Chief Executive Brett Simpson. The new strategy is starting to take shape despite challenges caused by European civil engineering weakness and the Saudi JV. We expect to slightly upgrade FY16 PBT, which is a positive sign in difficult markets. We continue to feel that latent value can be extracted; we await the analyst presentation but expect to retain our Buy recommendatio ....
02 Feb 2016
Solid end to FY15; Further progress expected
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Solid end to FY15; Further progress expected
In terms of results, FY15 was a year of consolidation, with the more important factor being the revised direction under new Chief Executive Brett Simpson. The new strategy is starting to take shape despite challenges caused by European civil engineering weakness and the Saudi JV. We expect to slightly upgrade FY16 PBT, which is a positive sign in difficult markets. We continue to feel that latent value can be extracted; we await the analyst presentation but expect to retain our Buy recommendatio ....