Amusing read this morning19 Dec 2019 11:23
All the optimism (rose tints) before open.
Deterioration and disappointment thereafter.
‘Formality’ from PF isn’t enough these days to see a rise.
The market is less and less interested in Tema - ‘like Iran it’s been batted around for so long, it’s not news anymore. And the initially numbers are very disappointing and delivered with the usual ambiguity.
I’ve read it twice and unless I have missed something - our illustrious board have forgotten that they flew to Africa this time last year, holding hands, and signed an airport MSC.
No update. No demise.
Peters effervescent language is less bubbly. Tranformational, to materialise, to significant. To double digit growth. I think they are reconciled to no more airport adventures. They’d love us to forget the AnonyMoU’s. It appears that they have - even when they semi sign one!!
The focus is on ports and training now. Smaller projects, slower growth. Nothing transformational to see here!! Much like the reinvention of the business, post SL - WSG has stalled for years in the ‘MoU failure’ doldrums. Abject failure to sell what was essentially a free service to a continent that desperately needed it. Iran got close - but demonstrates how desperate a client needs to be to entertain WSG. But all that government support must have informed that it was tricky, very risky, from the off.
The port in Ghana was a Lifebelt - it dug them out of serious sub-nominal just when they needed cash. PF had two top ten hits on Proactive. It also brought a fresh breeze to blow them in a different direction albeit at a slower speed. Some will content (reconcile) themselves with the new WSG. Others (the bulk of AIMers will seek better opportunities elsewhere.
See sells.
IMO. ;-)
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