Truth is I am not such a football fiend but it’s important to celebrate successes.
There are few enough of them in this hard world and much to grieve on.
Here’s another sporting comment that with name changes, might also be attributed to NRW :
“But whatever challenge was put in front of West Coast this season, the club found a way to overcome it.
Great teams tend to do this and Adam Simpson has turned his team into a great one.
http://www.abc.net.au/news/2018-09-30/how-west-coast-overcame-underdog-status-to-win-final/10322546
Without looking anywhere else, in the world of Australian civil infrastructure, the challenges
do remain despite reports of buoyancy in the sector , improved mining outlook and massive civil infrastructure boom.
This is evidenced most recently by Adelaide-based engineering and construction company, York Civil closing its’ doors;
http://www.abc.net.au/news/2018-08-13/construction-company-york-civil-ceases-trading/10113748
https://www.smartcompany.com.au/ind...ivil-collapses-government-contracts-in-doubt/
http://www.abc.net.au/news/2018-09-10/york-civil-creditors-liquidation-construction-company/10224384
The last link, from September 10, notes (amongst other things including that difficulties with big J/Vs escalated the problems);
....
“Report reveals dire financial position
York Civil ceased trading in August and was placed into voluntary administration.
The administrators estimated the company has $43.6 million in liabilities, but holds just $7.8 million in assets.
The liabilities include $7.9 million in employee claims and $15.9 million owed to unsecured creditors.
The administrators' report shows that prior to that date, the company was actively negotiating with two ASX-listed entities regarding the potential sale of the company's business and assets.
But no sale proceeded.”
Other evidence that things may not so excellent as they appear - in no particular order :
-RCR’s recent collapse,
-Maca posting worse than expected results ( although apparently temporary setback )
-Brierty liquidated rather than sold (despite eight parties interested in getting involved)
https://www.miningmonthly.com/development/news/1334230/brierty’s-destiny-approaching
And while it’s been said before it’s still relevant to once again note the industry change with BGC Contracting up for sale,
Ausdrill acquiring Barminco..
And added to the list :
CKI selling all WA pipeline projects to fulfill requirements for its $13B takeover of APA
https://www.theaustralian.com.au/bu...p/news-story/ed7a99b129c90379e1cba98b18d878f0
To alleviate competition concerns, CKI has pledged to divest all of APA’s pipeline assets in Western Australia, where CKI owns the major Dampier-to-Bunbury gas pipeline. It plans to sell the assets as a stand-alone business so that a new pipeline builder is also created. But its understood the ACCC does not see the sale of the assets as automatically doing this.
Plus
Salini stating it wants to buy Australian companies,
Downer rumoured to be after RCR,
Cimic.... a history of ruthless takeovers or attempted ones.
Anyway it comes down to the fact there is not a lot of ruth out there and, as has been noted here often, the margins grow ever tighter.
It has also been oft noted our management team is a great one .
It has twice weathered near fatal setbacks .
And that this puts us in very good stead for whatever comes next.
Cheers
(20min delay)
