Quote Originally Posted by MARKETWINNER View Post
If I am correct, their losses were largely ascribed to following two projects.

· Sky City Convention Centre
· The Justice Precinct in Christchurch

How did they lose money on those projects?

https://simplywall.st/stocks/nz/mate...-its-industry/

In my view currently it is overvalued. Although it has a long term business model it will take some time to recover. It may have some short term support in the current bull market but when bear set it also may have a hit unless they perform well in the long run.

I heard from someone at SKC that the higher ups were worried about FBU's ability to deliver on the contract but were given endless reassurances it would be met. Apparently it was/is a common practice to under bid to win the bid then look to renegotiate terms and penalties later relying on the pally pally approach.