I havent bought any yet but im getting very close. Im worried about high the market is at the moment. Its not an amazing company we all agree with that. The industry has Low margins. But it is trading at very low EBITDA multiples 4-5x.These are other reasons i like it Great cashflow Good clients 80% government Strong balance sheet History of Good dividends FF (42m in franking credits) yes 1c at the moment isnt great Think only 2 other large competitors doing a similar thing The board/KMP has good inside ownership and last year the board spent about $250K buying shares. I really like Allen gray and they continue buying and nearly own 20% now. The Lendlease acquisition seems like a very good fit, its just taking a while to show up. It also took another large competitor out. Approximately 85%of FY23 forecast revenue currently secured. ~87% of revenue subject to annual price reviews or priced ‘on application’ catering to market conditions. This also takes a while to come through.
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