capex plan, page-3

The money was spent building a new manufacturing facility at Henderson (an industrial area with shipping facilities on the coast south of Perth). The new facility is the most technologically advanced in the world and more than doubles the company's production capacity, whilst reducing labour costs.

The problem, and probable reason for the share price weakness, is a lack of confirmed orders for this financial year. Matrix have said that they currently have quotations in for over $500 million dollars worth of work. Historically I think they tend to pick up around a third of the work they quote on. So, whilst the future is bright, the current financial year is unlikely to be spectacular and markets are terribly myopic when it comes to results.