Full coverage: Actavo

After years of downsizing and pandemic disruption, the construction services firm emerges leaner and more efficient. It now needs to convert more newfound profit to cash before it can pay Denis O’Brien dividends.

For a number of years, Actavo built an empire, from the Caspian Sea to the US Gulf Coast. But the company grew too fast and found itself in unprofitable businesses. An analysis of the company's performance shows much of the damage has nearly been undone.