Incompetence within the highl paid people . Of concern should also be that its their intention to redeploy current key B&I staff through the greater business - one way of ensuring the rot / cancer spreads further seems to me.
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Haha yeah, tongue in cheek. :)
I agree, cutting the dividend will have a significicant impact. So much uncertainty ahead in the coming weeks, let alone years, open price could be the highest of the day.
Match price leading into the open went from $6.50 to $6.75 in the last couple of minutes. Volumes matching went from under 300K to over 600K. A lot of last minute jockeying!
A lot of trades to process - at open the message on ANZ said:
... until things settled down.Quote:
We were unable to obtain the market data required to serve your request in the expected time. Please try again or wait a couple of minutes. If the problem persists, please contact us.
Now down 13.2% (103c).
Totally agree that blaming sub trades just doesn't cut it. If you are pricing fixed price contracts and understand the design is not complete, you factor this in as a risk. Its clear that they didn't understand the projects well enough to be able to price this risk in / they signed up to contractural arrangements that weren't favorable to them.
if this happened in australia shareholders would be launching a class action suit , in nz you just walk away lol
cant believe they only dropped a dollar. (less already)
FOMO settling in now, but who cares IMHO Im betting there will be more to come !!