Ann: FY24 Results Release, page-6

Yes - this happened when they last reported - I topped up then and was nervous that I had missed something critical (I hadn't and collected some more stock at 48c!) Listening to the call, the only negative DS mentioned - and that they were not seeing in their order book at all - was obviously some weakness in select commodity prices..but OEM's such as Caterpillar and Komatsu can't keep up with their orders! Also, when pressed by one of the sell-side analysts, he conceded that $350m was a conservative FY guidance revenue no (the first they've given for the FY vs normal HY guidance) - but they felt able to do so such is their level of confidence on their order visibility/pipeline. I suspect - all things remaining reasonably equal - that this number will be revised up as the year progresses (and if it isn't....it's a great number!) I think this speaks more to the market's intense nervousness about the prospect of a global recession - has the Fed left its rate move too late, and is China in the toilet?! However, if that is the case, ANG's business will be holding up a lot better than many, given it's an essential service (repair/replace) for its customers. I just felt a greater degree of comfort about their operating systems, their focus on costs and efficiencies, their operating leverage, and outlook for their business at the end of this call, so I guess I'll go away and have a closer look...and maybe top up again like I did last result!
AIMHO DYOR