One other thing H1 u EBITDA is $29m, h2 u EBITDA if you take the middle and add back the one offs (well maybe I am a sucker here) is 49m. That is similar to or higher than h2 15 which was 45.2. So they are hinting that they expect this half to be the bottom. Although with guidance moving down so fast I guess you have to set trust levels a bit lower.
Ann: Cardno Provides Market Update and FY16 Guidance, page-6
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