Business Description:
Hastie Group Limited (HST) is a provider of technical building solutions: mechanical (air conditioning), electrical, commercial plumbing (MEP), fire, refrigeration and maintenance services, with operations across Australasia, UK and Ireland and the Middle East.

Strategy Analysis:
HST's immediate focus is on reducing gearing and improving business performances. Strategy is to improve project and financial management and restructure by closing non-core international divisions, wind back operations in Ireland and the Middle East, exit Australian air conditioning and refrigeration maintenance, and reduce overheads wherever possible. HST needs to integrate previously disparate businesses acquired by previous management and rationalise back office functions to save costs. More generally and over the long-term, capabilities within Australia are hoped to be strengthened through organic growth and selected acquisitions in sectors and geographic areas where HST is under-represented. There is a focus on multi-service offerings, as the company aims to cross sell electrical and air conditioning products in order to establish a strong market position. Focus is on strong sectors such as hospitals, schools, infrastructure and rail, which benefit from government spending. The company will also continue to improve on safety performance and retain, train and attract key talent. This is seen as pivotal for operations in order to add resources and strengthen management. Hastie Group reported net loss of $87.83m for the year ended 30 June 2011. Revenue from ordinary activities were $1.85bn, up 12% from last year. Diluted EPS was (34.6) cents compared to 15.8 cents last year. The net operating cash outflow was $27.19m compared to an inflow of $51.61 in the pcp. The total dividend declared was nil cents compared with 9 cents last year.