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  5. DRX: Can you comment on the ADF backlog drop from $330. [ADF Group Inc. Subordinate Voting Shares]
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Q: Can you comment on the ADF backlog drop from $330.3M vs $510.9M at the start of the year? It appears to be partly related to a strategic decision having recently declined a $150M Amazon project due to low margins (8%). I think this illustrates some management discipline - profitability over pure revenue growth with management prioritizing margin quality over volume. Curious about your thoughts?
Asked by Michael on December 13, 2024
5i Research Answer:

It shows discipline, certainly, but the backlog can also be a reflection of overall business activity. We have some additional comments on this posted here