Yes, agreed. This is a definite SELL. With the shrinking pool of...

Yes, agreed. This is a definite SELL. With the shrinking pool of projects in the resources sector, it is difficult to see how the company can revive its share price unless the price of commodities, particularly oil, tick up. Even then, this will take a few years for new projects to eventuate.

Coupled with its top-heavy management and onerous leases, the company will struggle to win its market share back in the local (i.e. non-mega) projects, which it has shunned during the boom. Many good former engineers have also moved on to increasingly numerous smaller and medium-sized consulting firms (which are more agile), and now competing against worley for the shrinking amount of work, hence its margin will be under pressure.