Not traveling too bad with PPT selling down 2m for some end of year rebalancing including 1m on July 1.
A reminder of Ross' words at his market briefing in Feb:
I mentioned in our results release we are expecting to deliver FY15 revenue in the range of $75 million to $80 million, and underlying EBIT of between $9 million to $11 million.
We have a strong pipeline of work for the second half. With most of the deferred projects having commenced, combined with other new client wins, we expect to see, as we have in past years, a strong second half in FY15.
In addition, we expect to start seeing the benefits of the range of “as a service” offerings beginning to come through in the later part of FY15....
Despite the short term impact on earnings in the first half as a result of the deferred projects, we continue to remain upbeat about the outlook for RXP and the growth opportunities available to the company.
We have a talented and committed team, a very healthy balance sheet with no debt, and are continuing to win new projects.
Clearly PPT have their doubts or at least have a priority commitment to managing the book rather than the investment.
No clear buyers for all the selling down by the majors.
RXP Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
