Turning Point18 Aug 2020 11:35
I've been following this stock for a while. It's certainly had its fair share of problems, but seems to be in a real good place right now.
The H1 results were slightly better than I expected and operationally cash-positive. This was achieved during a global pandemic with, what was their main revenue generator, Lungi, shut down for most of the half.
Tema looks to be performing on a level equal to Lungi and certain to grow. The only downside being it missed out on some of the initial expectations by investors. Regardless, it's still a large MSC. With the additional bonus of reliability in that it continued to generate revenue while Ghana was shutdown.
Africa is now opening up again with Nigeria announcing they are to allow international flights within the fortnight.
As business travel becomes easier it will be interesting to see how fast WSG can start working in KSA.
The whole look of the company with training catalogue, tech contracts gathered in the US, new web design etc. is starting to look like a real professional outfit. They've certainly used some of the time wisely during lock-down.
It still needs another MSC, but the business where it is, I believe easily underwrites the current share price.
Best of luck everyone.