Member Info for RunThoseProfits

I agree wit you there Sparks. I've held this for well over a couple of years now having seen it decline from almost 900p to sub 300p and begin to climb again. I can't recall it delivering a poor set of results and the balance sheet remains very strong. This strikes me as a very solid business that will continue to grow through acquisition and I fully expect will return to former share price levels given time.

Having had a managed decline of various shorts from approx 9% down to a single short with less than 1%, we now have two new shorts with the total short position increasing for the first time in many months. Disappointing as I thought all the shorts were moving to exit. Sadly the share price is starting to trend downwards again, now over 100p lower than its recent high. Frustrating doesn't begin to cover it for long term holders here.

I was a little surprised that the share price didn’t move yesterday despite the good news of the new Stagecoach contract. The shares feel somewhat unloved at present.

Notable that the shorts have all increased their positions this week.

Despite the recent fluctuations in the share price the shorts continue to decline with there now being only one declared short with 0.5% or more shares from, at one point, nine. I’m a little surprised we’ve not seen more appreciation in the share price as the shorts have exited. Iran hasn’t helped of course but the recent pullback probably cost the co a place in the ftse250 which would have helped continue their recent momentum. I expect this to continue to slowly recover and in dues course enter the ftse250. Given their buy and build philosophy I also wouldn’t be surprised if we saw an acquisition this year. By their standards it’s been some time since their last one.

Apologies. I meant to use the term tariffs rather than sanctions !

That’s a good positive message, Mav.

I think the business has and is doing as much as they reasonably can to respond to situations that are outwith their control. Sanctions has a major impact,

Especially with buyers putting buying decisions on hold as well as the costs of goods and materials exported to the US increasing substantially. And now of course we have the Middle East crisis and nthe likelihood of increasing inflation and interest rates. Long term holders such as myself will just have to bide our time until the climate improves. It remains a well run business doing its best to work through a tricky spell.

They need to say more than they’ve announced today. You can’t spend 8 months on a “strategic review” and in the end say we’re just going to carry on because the company is doing well and offers received undervalued the business. They wil have spent considerable sums on advisers during that 8 month period. What did they learn? What is the strategic direction now for the business? It doesn’t strike me that they’ve created shareholder value from the process.

Surely the point of a strategic review is to emerge with a new strategy as an outcome? Well what is that strategy? The board are perfectly within their rights to reject offers but after 8 months of review I’d expect more of an outcome than saying we’re just going to carry on.

This has lost over 25% now despite issuing an, albeit cautious, but never leafless clear message that management remain confident of delivering on current targets for the year. This is at a time when shorts have reduced from over 9% to less than 2% and are still reducing further. Unless there’s news that is. It yet public it seems a bizarre about turn in the share price which had until recently appreciated quite quickly from around 300p to around 525p.

I’m very surprised that the share price hasn’t appreciated in recent months. In the short time I’ve been holding BPM it feels like an exceptionally well run business with a very strong track record. It has generated 11% compound NAV growth since inception, has a healthy cash balance and is returning significant levels of dividends to shareholders. It feels significantly undervalued and intend to increase my holding.

I’m very surprised that the share price hasn’t appreciated in recent months. In the short time I’ve been holding BPM it feels like an exceptionally well run business with a very strong track record. It has generated 11% compound NAV growth since inception, has a healthy cash balance and is returning significant levels of dividends to shareholders. It feels significantly undervalued and intend to increase my holding.

It seems that even a trading as expected message to the market with even the slightest note of caution is getting battered. The slight retrenchment in the contrary feels like an over reaction to a cautiously optimistic trading update today. I expect these will recover and will continue to make strides forward.

A nice step forward for the share price today. It’s not obvious why. No news. No RNS.

This feels like a ludicrous market reaction to a “trading in line” update. Trading well below its true valuation. Will rerate at some point.

AT is slowly re-rating as the shorts make their exit. It seems to slowly be recovering and I hope will return to a more realistic valuation. Easy to forget that a couple of years ago this was almost £9 and it’s bought and integrated a couple of profits accretive businesses since then.

One would expect so pj, but then perhaps it also creates a headwind of opportunity when things pick up again - I’m not certain. Some comms from the business on the current contractual situation and outlook would help. I’d like to get back in here but there’s just op much uncertainty (for me) to do so right now.

This has dragged on ridiculously long. For Australia review to last this long is a joke. This must lead to a meaningful and favourable outcome for shareholders or the board should be forced to resign at the AgM. The lack of comms with shareholders is farcical.

The wind down of shorts appears to be accelerating.

It’s nice to see AT to quickly recover back to almost 500. Let’s see if it can sustain this and push on towards a more realistic and appropriate valuation.