just how much trouble are they in - help please?, page-8

re: just how much trouble are they in - For what it's worth, Fat Prophets rated them a greyhound (ie "ready to run") back in September:

Hope that analyst has had a few wins this year to make up for this misguided call!

https://www.etradeaustralia.com.au/Products/IndustryResearch/FatProphets.asp?Page=DOG&Issue=Greyhound%2C+Fat+198

Henry Walker Eltin (HWE) is an Australian company that provides a range of integrated services to the mining and engineering sectors. The company has operations in Australia, New Zealand, Jamaica, Ghana and Indonesia. In the last financial year HWE achieved revenue turnover of $1.1 billion, and reported a lift in net profit after tax to $16.9 million. This compared favourably to a loss of $23.6 million in the previous financial year. In the past, HWE had encountered problems after underpricing some service contracts. Although the headline profit number was a considerable improvement on the previous year, we believe profits could potentially accelerate going forward.

We are confident that HWE has turned a corner with its operations, and that the share price will soon follow. Much progress has been made in restructuring the business in recent years, and especially in improving the evaluation process for risk management. Many unprofitable contracts have been closed out, and management are far more disciplined when evaluating new business. This is a marked change from the way the operations were conducted in previous years. Based upon management's forecasts, HWE is valued on a forward earnings before interest and tax multiple of less than 5 times, which is cheap in our opinion. We expect Henry Walker to come bounding out of the boxes in the near future.