Ann: Guidance Update, page-15

Monadelphous sees ‘moderating margins ‘ due to competition and customer demand ...

More clippings from it’s ‘Address to Sharehokders’ today https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4g68yhaZrfl9ke92GA==
.....
“While revenue growth was strong, we experienced moderating margins due to high levels of competition across all markets and a continued focus on cost reduction by our customers...”
.....
“.......As stated earlier, the overall outlook for the resources and energy sectors is positive, and maintenance activity is forecast to grow.
Project pipeline visibility continues to improve with several major iron ore projects having entered the early stages of development, and an increasing number of opportunities in the base metals and lithium markets.
We are experiencing high levels of tendering activity, with major resources construction projects expected to generate significant revenue possibilities in 2019/20 and beyond.
Investment in infrastructure is healthy, with prospects continuing in the water and irrigation market, as well as in the Australian renewables sector.
As highlighted in our full year results, as a result of the expected timing of future resource construction opportunities, and the large revenue contribution earned from the Ichthys project in the prior period, we’re forecasting lower construction revenues in 2018/19.