REVIEW FROM THE CEO / Pg 081
Although the construction industry in the group’s
targeted geographies and sectors still has solid
medium and long term prospects, the reality which
emerged over the short term is that conditions have
been much worse than envisaged during the business
planning and budgeting undertaken in F2010.
REVIEW FROM THE CFO / Pg 086
The group had to decide whether it was going to increase
order in-take at potentially low margin and cash negative
returns to cover unutilised assets or whether it would
reduce the asset base and focus on margin and cash
retention. The group has clearly communicated its
strategy of choosing to focus on margins and cash
while managing the risk of losing key capacity.