Ann: Half Year Report - ASX Release, page-23

Madamswer
I agree that one does not buy for the sole reason of NTA , but as utilization and margins increase , then so should revenue . One needs to incorporated the tail winds of the infrastructure push. My NTA comment was just to make the point there is a safety net of core value , so even if it struggles operationally and doesn’t improve margins and cash flow to the degree to meaningfully reduce debt , it’s not likely to fall in value greatly. As with Ang , the market sentiment impact of improvents in metrics can do a lot in rerating stocks faster than the earnings improvement
As always appreciate your thoughts