bvt, I was just reading this from the ANN, 8th May:“The Leighton...

bvt, I was just reading this from the ANN, 8th May:

“The Leighton Group’s diversification strategy, underlying strength and positive outlook is reflected in our work in hand which remains around $45 billion with a further $11.5 billion that runs out beyond five years,” said Mr Tyrwhitt.
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Unbelievable to have that amount of work- the numbers are astonishing.

There is a lot of positive change at LEI, imo, since Mr Tyrwhitt has come along. Continuous disclosure is much better- more continuous. :) It also seems that dividends will now be ongoing, due to the parent wanting them.

I was interested in the numbers for the pending class action, and it seems it will be $400m, from this article:

http://www.smh.com.au/business/leighton-class-action-20110831-1jlzl.html

With the assets sales program, that should be manageable- better than unspecified damages.

I reckon the LEI share price remains hostage to its major shareholder. It looks to me like LEI is tidying up its business, and will get taken over at some point in the not too distant future. The SP of LEI just gets lower and lower, even as the company gets tidier. There has to be something in it.