Member Info for Duckberry

Correct I think announced in October 2023 and delivered in November 2024 I suspect so will have just been booked.

I rather felt the jam is here. The cash conversion is up, balance sheet and cash position stronger despite more capital investment and they’ve lifted the dividend. Confirmation that revenue is booked in H2; suspect that’s because Ukrainian open source suggests deliveries to the 156th in November just after the 31 October cut off.

Surely some of the price action is being driven by war in Ukraine and Russia launching drones into Poland; surely an excellent time to be a purveyor of cost effective anti drone defensive weaponry.

Saw in the FT that the Russians are deploying huge numbers of Iranian style Shahed drones in swarm attacks on Ukrainian cities; MSI Terrahawk system has been reported in open source as excellent for taking down with a range up to 2km. The UK provided MSI systems to Ukraine as part of an aid package, which might be positive for further orders globally (see also Iran use of Shahed drones in the ME) but Russians are upgrading the speed and altitude of the drones so will be interesting to see how far current systems stack up against fast evolving war landscape vs new and competing technologies like swarm interceptor drones and competition from other firms kinetic systems like Rheinmetall.

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