Chart Update, page-797

I expect Pioupiou could decimate my comparison Parma as he watches both companies using deeper assessment criteria that I know little of.
At a rudimentary level I read the difference as being based on that extra diversification that MND has - it seems big in waterworks, oil and gas and I think they said maintenance had risen by 25%? - it having already proved a profitable division in earlier repo... rts.
Having a ‘Jeeves’ arm is clearly the way to go as I remember reading other companies liking maintenance contracts as well.
But Tony Featherstone’s comment about NRW possibly falling “too far too fast”  probably still contributes to relatively low prices in comparison with other companies  .It also makes me wonder if Monadelphous is overblown.

I was reading back over old reports and comments and another thing that really impressed me is that when. 
NRW sets a course, it holds to it .
Jules said two years back I think that reducing debt was a priority as one of the measures to protect the company from the near death experience if went through as a result of the Samsung betrayal.

He also said  NRW was successful in about one out of three of the tenders it was interested in .
i wonder if our growing excellent reputation and having TVR under our belt will improve that ratio - even if we do not bid ‘close to the bone.’