SPZ - Like snail on a hot summers day, page-41

Teddyward,
Like Highett, I've been in since around 10c. Shareholders have not been bled dry, but rewarded handsomely. This company requires patience, while it steadily builds a moat around the business.
You talk about the competition - yet SPZ continues to install ANPR systems and generate huge cashflows from them. Any system installed with councils are long term, and will be a barrier to entry for anyone else.

Customers (councils/shopping mall operators etc) benefit from fines, obtaining data on usage of car parks and traffic flow for their own planning purposes, and reduction in resources to check on overstayers.