[ATTACH] Some more thoughts on the 2018 end of year report:...

Some more thoughts on the 2018 end of year report:

Notice the strong identification of the company regards its’ expansion of direction  and integration of Golding in the introduction:
LEADER of DIVERSIFIED SERVICES to the RESOURCE and INFRASTRUCTURE sectors.
( but in case anyone is confused it’s lost touch with its roots  there is a reassuring little silhouette of a front end loader )
“We’re still here doing what we’ve always done ..”

Other stand outs on the front page of the Full Year Results  Presentation are the numbers including the current record order book ; $2.2 billion
As I read the Financial report $1.7 billion of this work was secured in 2018 ?


From the press release; CEO Jules Pemberton’s comment on the year :
“The acquisition of Golding which was completed in September last year has been an outstanding success.
Golding have secured a number of new contracts and contract extensions which will underpin activity in the coming years.
This exceptional result together with the awards in the WA Mining business and the recently announced contract for South Flank have contributed to a record order book of $2.2 billion.
With revenue growth of 40% expected in FY19 and a strong pipeline of opportunities I look forward to significant growth in the years ahead.



As @Barrah90  pointed out in this post 35148419
“The last time we were @ this price range in Mar 2014, the outlook was "the end of the mining era".

“Rolls reversed & the last time we were at this price range in an uptrend was in Dec 2010 when the price rose to $3 off the back of a Rio Tinto contract over a 5 year span. Earlier that year NRW was introduced to middlemount in QLD. “

Technically it seems the way is clear to prices up to $2.20 without anything further happening
Fundamentally @Pioupiou  and @pbawley  have both agreed that, as 2019FY,  progresses the price to buy a share in this company will surpass that.

The market currently seems to valuing this excellent news very conservatively.
That’s OK by me  .
It seems there are at least five good years to look forward to according to the summary in the report:
They say it simply

“• Strong pipeline in resources and infrastructure for the next five years.”


Moreover now that dividends have been reinstated they are likely to continue
If nothing else changes and debt is paid down at the same rate we will be virtually debt free by year end FY19.


And the most astonishing, amazing and excellent thing of all was the strategic gamble the company made when it went all out for FAL.
Profit from the joint venture, according to financial report :$1.8 million...
Against the overall 2018 profit of $42.4 million that’s not all that significant
But every single positive change that the company has made since then was underpinned by this win.

It’s a fantastic outcome and a fantastic story and they should be enormously proud.
Not just of winning that contract but of immediately building on the strength gained to consolidate and rebuild the business from 5c a share in February 2016 (Due to a dreadful betrayal by Samsung which the judgements of two Australian courts were unsuccessful in rectifying) to around $1.90. a share with the company’s largest ever order book in just over two years .

Incredible