RE: Q4 figures due on 4/123 Dec 2025 10:25
Hi Macy - Well I realised a 10% return (from mid-Jul to Dec) which is fairly decent. The GBG results fell a little short for my liking (only slightly but... something which in the end contributed to my decision).
Then there's the added complexity of the ongoing Budget fallout, which I think has completely trashed the reputation of this Labour Gov - May elections look teed up to be utter carnage for this Lab administration & there could well be calls for a new Labour PM to takeover... A new PM may want to free up some further cash, it'd be a straightforward one to roll back on digital ID (OBR indicated £1.8bn, Gov disputes this saying that's an early estimate so may be cheaper). Anyway, any new PM would surely need to do something to sure up their political capital, getting rid of unpopular Gov ID seems an obvious choice to me - so I now calculate GBG could be over-valued, hence my decision to sell. Potentially, with ongoing market turbulence & weak growth GBG could drop to £2 IMV.
As for SSPG - RNS coming out tomorrow, I'm holding - still much turbulence out there and plenty of accumulating opportunity.