its clear from this, that FCL is mainly, a Service based business, the majority of revenues come from I.T projects and implementations which come at no operating profit. Its software business, whilst growing, is small. This contrasts to established ASX names like XRO, WTC and ALU which are pure software plays, with hardly any service based revenues.
The company upgraded its service based business, but software is a slight miss on prospectus. Overall that is neutral to a slight miss. Market has somehow pushed it 10% higher on negligible on market volumes(nearly all the volume being crosses). In conclusion, this is a professionally institutional managed stock.
At over $800m market cap, this is not a cheap stock, with a lot of growth priced in.
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