RE: Quick question14 Dec 2023 17:20
Olive, when you consider the expectation was disaster, bust or fire sale like the shorts expected and many including LTH expected, excellent is probably an understatement. To achieve improved EBITDA, reduced stress on debt covenants, growth in the recurring revenue aspect as planned in this environment, means the sector is well alive and the company knows how to take advantage of it.
In a weird way, Im kind of glad no offer was put through, as now the ceiling and price has just shot up significantly. Think about the fire sale touted at 40p.... when things pick up for real, this goes back into the £s IMO
Still at below 2x EBITDA, when industry suggests 7-10 +
Absolute steal and de-risk today, some patience and it re-rates.
All IMO