Read recent straws by @Noddy74 @shivrak and @Wini for the details leading to my decision today to establish a small position in $RFT. (0.3% RL and 1.5% SM).

With a healthy contract backlog and profitable operations combined with easing supply chain, @Wini called it that FY23 and FY24 could be the breakout for RFT. Today gave support to that heads up.

I've had them on my watch list for 3 years and, although I prefer not to buy on "good news" when the market gets excited, today I dipped my toe in the water. No doubt, there will be plenty of opportunity to add more at cheaper prices, and I would like to get up to my usual position size for a speculative stock of 1.0%.

Just back of envelop, if H2 looks like H1, then the p/e would be about 9. And it generated cash this half! Of course, that is no way to think about this company, as it positions itself to provide "picks and shovels" into the global EV market. There are many competitors for this huge market, but $RFT are in the game with deep capabilities. It has all the credentials for a speculative position in the portfolio.

$RFT has been around for 30 years, and they have deep expertise in power systems engineering. For those intrested in going deeper on the technicals and also seeing and hearing about the RT22 50KW EV Charger Module, have a look at this video.

The whole video is interesting for those with an appetite for getting into some of the electrical engineering details of EV and Battery technology. The R22 bit starts at around 57: 30.

Disc: Held