Bargain shares26 Jan 2024 10:30
The share price looks ridiculously cheap. It was devastated by the market makers based on October 23's trading update that now looks to have been overly pessimistic. Remember when the share price dropped to 7p and recovered to £1.
As the most recent trading statement makes clear, there is lots of upside including: major overhead cuts with probably more to come, a business making significant losses is now cut free, great new business wins, as well as reducing debt interest as rates come down, an improving general outlook and I suspect far more focus on generating profit after this blip.
I suspect this business could easily make an EBITDA of £12-£15m. It's a 50p share today.