Not a lot of joy in the latest results except that ANZ has stabilized in a tough market. IMO - Americas comtinuing to lose market share - particularly in historically higher margin environmental consulting. Corporate cost saving target not yet realised and given reduced size of the business this now looks too low a target. Cash flow improved but comments on result call suggests a benefit from a one time adjustment to processes. Of most concern no restatement of full year guidance of $65-$70m. Got a bad feeling 2H results and cash are not on track currently.
Not a lot of joy in the latest results except that ANZ has...
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