Interesting24 Oct 2025 17:37
Carried out analysis over recent days, business is undervalued relative to profit and cash flows, I like the diverse business model, I disagree with certain aspects of their strategy such as their desire to keep a minimum leverage and their heavy spending on buy backs totalling 140m from FY21 to H125, this could of reduced net debt by half and increased adjusted net by 210%, the sp was in the low 600s in early 2024 with an mcap of 700m before climbing above a 1000p, it has returned to the low 600s yet this time the mcap is even lower due to share buy backs. I see a Future for its preferably diverse business model and based off of profit and cash flows share price has reason to be 800 to 1100p and it would still be fairly valued. See You in the Future.