A bad beat on this one. Few would have seen it go this bad, this quickly.

One lesson/reminder here, i think, is reflected in this line from Tony Boyd in the AFR -- "...fixed price engineering, procurement and construction (EPC) contracts won by RCR Tomlinson resulted in too much risk being carried by shareholders when things went wrong."

Combined with aggressive tendering, and the fact that engineering services firms have a lot of variable costs (eg. labour and equipment), it was a high risk model.

My condolenses to shareholders. It happens to us all at one point or another.

Onwards and upwards

This AFR article paints a grim picture:

AFR: July 30th 2018: RCR Tomlinson shares in trading halt ahead of earnings announcement

The accounting changes detailed in the article could explain the delay.

We shall see.