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Yet another good piece of business today with Sodalis buying Amiga. BPM just keep making smart investments.

I am taking a long term view on AT. This is a long buy and hold for me. The present conflict may present some short term challenges but long term AT will go from strength to strength. I won’t be surprised to see further acquisitions as they continue to buy and build.

It’s a depressing pull back in the share price after recent positive results. Yes, sentiment is poor for obvious reasons but there seems no real reason for this in this case.

Yet another very strong set of annual results announced today showing, again, what a great business this is.

I agree. These will get hammered today.

Agree Shandy. For me these are currently a buy and long term hold. I can’t see dramatic movement in share price in near term unless they land a landmark project. But I do expect these to rerate in the future, or to be taken over. Right now they are a bargain.

This has been a relatively common observation - the need for stronger, more effective communication. I certainly agree with you. Some RNSs could have been much more positively worded.

Remove the reference to the very large completed contract and these are very positive results but the share price has halved in the last year or so and is now distinctly undervalued. There is also the prospect of similarly large one-off projects (typically casinos) to be secured (dowgate mentioned sometime ago that there were plans for 5 or 6 of these in the next 2-3 years).

This seems a silly market response. The numbers were signalled in the previous, relatively recent trading update at which point the shares dropped markedly so to drop significantly again today feels dramatically overdone. It doesn’t help that the results were announced 48hrs after a significant

Middle East conflict starts and the market is a sea of red. Hopefully common sense will return soon, but at these levels Snx would be an attractive proposition to be bought out.

It feels inevitable that we’ll get a pull back but that then represents an opportunity. The extent of the pullback will depend on the extent and timeframe of US action and, I suspect, what happens in the Strait of Hormuz.

Indeed. Results were end March last year so expect

Similar this year. The shares dived at the last update when the company announced that decisions on some contracts had been delayed. Progress on some of those would be beneficial. The business has some significant opportunities. I’m just hoping that patience will pay off when some of these bear fruit.

The after market price is showing as 150p. There’s a buy of 1 share at 4:35pm today - usually a signal of some kind from a market maker. What they are signalling, heaven knows. I can’t see any news anywhere.

3 new contracts announced and the sp drops over 6%?

I wouldn’t describe a stock that fell from almost £9 to under £3 in approx 18 months defensive.

That aside, I share your enthusiasm for the stock. It will rerate but may need help with the oil price to get to former levels. I also expect there to be further acquisitions. By AT’s standards they must be due one quite soon.

Disappointing to see this dropping back a touch. I assume this is more geopolitics and the potential for action against Iran and the potential disruption that could arise from that rather than anything specific to GMS. Potential to top up if this drops further. I suspect this will jump at the next market update when we should get some colour on a dividend and / or share buybacks and reinforcement of what should be very impressive fundamentals and continues growth of the business.

There can’t be many company’s that would announce three new contracts only for the sp to then fall. The business needs to share some details as to the value of those contracts so that the market can assess their contribution to the business and its relative value.

The share price continues to drift badly and is now less than half what it was in late July 2024. Badly needs some positive news flow and some of those delayed contracts to come through.

No sooner had they increased to 4, the number of shorts > 0.5% has reduced again to 3. Let’s hope that continues and we see positive trading updates from both Jet2 and OTB.

It’s disappointing to see this retrench a little today, but this seems to be ATs typical habit. It cannot seem to breakthrough the 440-445 trading range that it’s been stuck around for a little time.

The shorts are trending downwards gradually and I hope as they continue to do so this will push on and rerate closer to its true value.

A positive update at its year end results and presentation next month would help, as would the stock breaking into the FTSE 250 which seems attainable now.

Someone needs to help SNX write more impactful messages for the market. They undersell themselves. And in this latest RNS they miss the one key piece of information that the market is most interested in - the value of the new contracts. Not surprisingly, the sp hasn’t moved on this news.

A further short with > 0.5% now declared. Not ideal.