Friday trades16 Nov 2024 08:09
Ensuring the recovery of our Projects business unit, together with its successful transition to a more streamlined operating model.'
That sounds like redundancies. If there is a restatewment of costs or earnings, part of the cost package would be write-offs/downs. I'd expect the company to pack that into a one-off that will make subsequent earnings etc look good. I think the current share price very likely overstates the case by 20-50p, though uncertainty possibly justifies a discount.
Technically, the share price / chart is substantially beaten down and may need some consolidation around the current level ± 2p before resuming a clear up trend. Encouragingly, there are more AT buyers so far today, which hasn't been the case in recent days.