"New purchases will be supported by robust capital...

"New purchases will be supported by robust capital investment
analysis." -- I recall the same thing said before the disasterous Staymint venture. Robust analysis was also used to make the Feb profit projection for the full year. I've trained a few PhDs in my lifetime, and the sort of people that are employed for these "analysis" are the ones that aren't quite smart enough to make the cut.

"Full independent review commissioned on QLD civil operation
in late FY12" -- It took me two seconds to identify the problem. Profit from project = Project Revenue - Project expenses. Project expenses = cost of materials + finance costs + overheads + employee benefits. CPI has remained quite low and interest rates have been stagnant, I see a 20% increase to admin costs and a 23% increase to personnel costs (21% increase in basic wages and salaries: $133m to $162m). Even though the construction unit is doing well, they are deriving less profit from more revenue... you don't need to be a rocket scientist to understand why.

A major shakeup is needed here, all that seems to be happening is that Shareholder capital is being transferred to the employees with ZERO (In fact NEGATIVE) return back to the shareholder - and that's plain offensive. The property division's gift to Kevin will be remembered.

I hope noone is selling because of my rants. Personally, my sentiment is buy, the malpractice within the company will be weeded out and the ship will turn in time.