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COF Open Briefing Session - worth a listen

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    561 Posts.
    Hi All

    Interesting Open Briefing session with John Douglas and Urs Meyerhans, link as follows:

    Key points I took from the session are:
    - With NSW picking up in Transport & Infrastructure Engineering requirements, market is no longer lowering margins in other states to get work. There is an expected upturn in 2016, with significant tender volumes being published. Expectation of work beginning before 2016 starts.
    - Geoservices division restructured by reducing by 70 staff. Urs mentioned that due to this right sizing to the market, they did not announce it as a restructure. 70 staff will reduce staff expenses by $10.5 Million (assuming an average of $150k per engineer).
    - International Development is picking up across the globe, except for Australia. With Australia decreasing COF has targeted the Scandinavian countries with considerable success and see this as developing into a large target market.
    - Next point isn't verbatim, I am reading between the lines. If Queensland and Victorian governments get organised, market will pick up for services. Growth has stalled in these markets due to change of governments. Pick up expected in 2016.
    - Positive signs in other markets they are in. The UK and Canadian governments are building Railway infrastructure for the first time since the Victorian Era.

    Best of Luck

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