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Building blocks - understanding the investment fundamentals of construction and engineering

A look at the changes taking place in the industry and the basics that are needed for company analysis

Construction industry margins are notoriously low, making cost structure paramount. As such, a company's books must be closely inspected. Its main contract types need to be identified and the benefits and drawbacks of each learnt.

CONSTRUCTION and engineering is almost certainly the oldest industry we will explore in our investment frameworks series, as it goes back to our fundamental need for shelter. In 4850 BC, our Neolithic ancestors constructed the Cairn of Barnenez - the world's oldest-surviving building. This...

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