More bad news. The no divy got me by surprise. However, i would...

More bad news. The no divy got me by surprise. However, i would prefer a focus on capital management over an inappropriate dividend designed to impress investors.

I work as a consultant in a similar field to COF. The last few years have been tough. Investment in some sectors has all but halted, projects have been cancelled or delayed without notice. This all leads to higher competition. At the end of the day there is some degree of luck involved. Cardno have done well, but this is partially due to their leverage to the gulf oil spill, which would have provided more work than they can do at ?emergency rates?. This ongoing poor performance has a negative feedback effect as they will be bidding on jobs cheaper, which will lead to lower margins going forward and staff become disgruntled and can move on. However, on the positive side, the current SP offers a great buying opportunity for those who want to punt on a turn around. I think i?ll wait a couple of days before maybe topping up.