“NRW reassures on growth risks” “NRW Holdings executives have...

“NRW reassures on growth risks”

“NRW Holdings executives have moved to reassure shareholders about the company’s risk management procedures after it more than doubled the size of its workforce and grew its order book to a record $A2.4 billion in the year to June 30. Rapid expansion and problem contracts left NRW, and a number of its peers, with high debt and shrunken earnings after the last mining boom ended abruptly.
Long-serving Australian Shareholders Association representative Len Roy applauded NRW's recovery from that period at the company's latest annual general meeting, citing a "60-times uplift in mar..........”
https://www.miningnews.net/events-coverage/news/1351564/nrw-reassures-on-growth-risks



A reassuring perspective on the way NRW Holdings has set itself up to deal with future flack
I’ve been posting cynical and bitter sector news of late.
One thing is clear . Whatever the shareprice action, the more ‘dirt’ and grief elsewhere the brighter this company shines.

UPDATE LAST TUESDAY :

NRW on track to deliver $1.1 billion in FY 2019 and Jules is “exceptionally” pleased with improving operational performance “which has continued to improve across all parts of the business and is clearly demonstrated in our earnings outlook”.
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4we1zRKZruBxke92GA==


UPDATE LAST FRIDAY
New banking measures put in place ie a corporate note debt with two years left to run will be fully paid out in December.
The advantages of moving the loan to BankWest (a sum of under $38 million) are such NRW will pay noteholders a premium of 2% on what they woukd have earned (7.5%) over the next two years to close this debt.
As Pb said 36611742
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4g65yBCZruBxke92GA==
Banks can’t be too happy with this sector at the moment?
So quite apart from anything else, BankWest putting its hand up to support carrying the loan ( and increasing it if an irresistible opportunity arises) seems to me to be a great sign of confidence.