Forum Topics PPH on a roll
Chagsy
4 years ago

Nice to see a large portfolio position get re-rated by the market as the thesis plays out and it also gets included in the index. 

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RobW
4 years ago

Hi Chagsy I remember some saying the SP was in ‘overvalued’ territory at 6.80’ish commenting that it was time to trim. I had a 12 month forward valuation of 9.28 which I revised to 10.43 following the AGM and the upgrade on the EBITDAf. Whilst the current price of 8.90 is in keeping with my 12 month forward valuation, the gut says we are getting ahead of ourselves. Either the big players are extrapolating the numbers and realising going forward, these prices will become ridiculously cheap (still a fantastic investment) OR we are set for an adjusting decline following this buying spree. That said, I am now not ruling out that the Company will soon announce another acquisition, this time to be funded via a CR. No doubt the Register improved dramatically with the release of the FY2020 results. Believe that the Register has strengthened further. Stage therefore set to raise capital at these price levels less a discount, yielding a very favourable for the Company. Absolute ‘Keeper’ for me irrespective. Rob W

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