a turnaround story par excellence imo, page-23

i'd like to see the consolidation on track albeit there are still some unwanted assets to be sold. if there are no negatives from left field then for me it all remains to the upside. leighton today looking healthier. i see watpac going in the direction of a leighton over time. i believe the management are capable of taking watpac that far. i saw leighton below $1 back in 1992 and watpac is better positioned than leighton was then. it all comes down to the 'pilots' of the company. if they are up to it then stay with the investment. i'm in no doubt the wtp team are up to it. oz mkt is now into bull territory. i know many oz businesses are sufffering from the strong ozzie dollar but this scenario should not be a negative for wtp. interest rates are low so that too is a plus. going forward i expect state and canberra chiefs to expand infrastructure projects to take up the slack from any mining slowdown. either way wtp will benefit. looks a very good one to me over the next few yrs. bots and too much of it has an effect but not to let it worry us imo. think 2015 and beyond.

40.