Many moving parts (WebJet flattish, Online Republic in surgery, WebBeds ballistic, and new embryonic services business). The Thomas Cook Eu$27M loss looks like a maximum to me ... just chalk it up to an additional cost on obtaining the contracts on the 3000 odd beds.
I think the shorters bet that WebBeds growth would stall - it hasn’t! These guys appear to be doing a great job of managing mature cash generating business whilst feeding a growth engine and places new embryonic investments for the future. The reduction in debtors outstanding in the recently purchased business indicates their operational/integration focus (not just growth).
I’ve been a long time watcher and now recent holder as bought the recent dip. Happy with this first ann. as a holder.
WEB Price at posting:
$12.44 Sentiment: Buy Disclosure: Held
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