Thanks for that Cro. I caught up with some cycling friends in...

Thanks for that Cro.

I caught up with some cycling friends in Sydney this morning who happen to be Cardno guys. I did a bit of digging.

Their utilisations is only 65%

That's shocking, 35% non billable staff.

They run on Business Units, 30 plus P&Ls for Aus alone and huge silos.

NSW is holding them up and it's all land development work. QLD, Vic and WA dead.

They have something they call their Value Centre but they don't use it as they haven't been told to yet. This is a design office in either India or the Philippines. The cost savings are huge something like 1/8th the price for Engineering.

They don't even do CAD work offshore. In this sector, offshoring basic work has been normal for 10 plus years.

Good news is that they can turn around quickly. Seems obvious, break up BUS and get your projects delivered in India.

Aparently Crescent guys have taken over total control. Seems they are going to slash non core business, empower local managers and get work done in India.

I'm very positive about this one after my chat.

My average SP is 90 cents now.