Half Year Report28 Mar 2024 10:42
Itâs good to read statements like âa number of substantial contracts and renewalsâ and âoperational performance has improved markedlyâ in the context of the Capita businesses that have only been under the ADVT wing for 5 months. Furthermore, results for 12 months to February 2025 are expected to be well ahead of expectations.
Having largely skimmed these results, there doesnât seem to be a lot not to like - of course the wage bill has increased substantially in view of the new businesses on board, and it will be interesting to monitor how the number of staff changes over time.
Meanwhile, cash balance of ÂŁ78.7m and SAA âinvestmentâ now worth ÂŁ19.2m represents ÂŁ98m of todayâs MCAP of ÂŁ170m. Plenty of cash to pursue further investment opportunities. Itâs perfectly fine to be deferring dividends in favour of capital growth - Iâd be worried if VM was talking about imminent dividends tbh
Certainly glad that I decided to hold tight here. Itâs one for the long term hold imo