Seems the market and some analysts have been spooked by Mick's...

Seems the market and some analysts have been spooked by Mick's presentation.

In the last few years the "analysts" have been consistently "surprised" by SKE results and performance. Maybe this time they were getting carried away with some irrational exuberance? We saw the herd take fright last year when the price of iron ore dropped, we see the same now on nervousness about some of the mining sector. As previously they will be back when the results are published.

Mick in his pres. only confirmed all that we knew. This is a ripper business in some tough market segments and some good segments.

"Challenging market conditions in the second half:
• Workforce Services: continuing weakness in demand in mining with continued price and margin
pressure; weak employment conditions overall
• Technical Professionals: reduced activity in mining and related engineering services impacting on
Swan in 2H
• Engineering & Marine Services: continued growth supported by increased activity levels
• Good progress on transformation and cost reduction
Continued strategy implementation to support EPS growth:
• Lower sustainable indirect cost base, reduced debt and interest cost
• Delivery of scale benefits in Workforce Services
• Continue to pursue opportunities for profitable growth in oil & gas, telecommunications, expansion of
maintenance & shutdown services and other higher margin segments
Balance sheet strength to support dividends and growth"