OUTLOOK;
Pace of contracts awards has been slower than anticipated. Saunders operated in highly competitive cycle and work at hand has been won in this environment will see moderation in our margins for First Half.
Work in hand at end of Q is aprox $22m. Tendering activity remains strong and value of live tenders is $105m +55% Y/Y. Pipeline of projects yet to tender $155m ( FY 15 1Q $81m )
Company expects second Half to be better than First Half.
After speaking to workers at AGM I like how they buy their plate steel from Bluescope , Port Kembla truck it to Sydney to be rolled. Bluescope steel is the best in the world and Saunders produce Quality tanks that will last for decades!
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