WBAG:POSConstruction
PORR (WBAG:POS) Stock Cheapens As One Off Gain Clouds Profit Quality
PORR stock closed at €37.6 after a choppy week, with the share price drifting slightly over the past month while the wider construction sector stayed focused on interest rates and project risk. The headline from these earnings is not the revenue line; it is the quality of profit. Trailing earnings are flattered by a €49.0m one off gain, which lifts reported earnings growth and helps produce a P/E of 12.7x that looks cheaper than the broader European construction industry. The market now has...