The group’s H1 trading update highlights some challenging underlying market conditions, with inclement weather seen across both North America and Australia, which has caused some project delays. Some positive growth drivers continue across tech manufacturing and reshoring. While a stronger H2 is anticipated, management are instigating a 15% workforce reduction to offset some of the effects of lower revenues. It reduces its FY24 guidance which results in a 12.7% reduction in our adj EPS forecast. ....
