sp, page-19

As I have posted here before I worked for Coffey for nearly 10 yrs a good while back before going into the same business.

These days we compete with Coffeys specifically within several fairly defined fields on some of the larger infrastructure projects on the eastern seaboard.

I can tell you first hand there is so much work coming up over the next few years it is ridiculous. Coffey are well resourced and will win the largest proportion of it. The only real risk perhaps is that they will be tempted to take on too much and wont perform as well as they otherwise could.

On the eastern seaboard they could easily win $30-50 mill or more in just major project fees over the next 2 yrs imo. In the NW of WA they also have a strong project presence.

I am thinking the current weakness is associated with loss by withdrawal of one major Sydney project, delays to the projects I am referring to above and delays/cutbacks to overseas projects whilst digesting acquisitons of the past few yrs.

I am confident enough that this is an unpleasant glitch and have bought shares in recent weeks. Its kinda fun owning shares in a competitor lol.

Cheers
Dex