Ann: hummgroup 1Q22 business update, page-14

Why is the share price going nowhere ?

When they present the nos using pcp as they do in these qtrly updates it is only one consistent view of what is actually happening. Might look good, (and I want to be a believer) but is it ?

You might find this view interesting.
Here is the last 2.5 yrs Q on Q which provides quite an interesting set of run rates when you consider Covid impacts + lockdowns, Xmas type trading periods, rollout of new products gathering traction etc.
Each of us can have our own view so I will not over comment. Maybe Strategy day will explain the growth needed and coming.

The good thing is we have a nos of pluses to grow this quite quickly as we live with Covid i.e. travel, Bundll partnerships, UK/Canada and Commercial & Leasing in particular appears to be in a sweet spot.
From my perspective I believe they have the product suite to grow at exponential rates with the directions so far given.
However when you look at the nos this way in summary revenue has been patchy but growing as one would expect and Bad Debt is holding steady. The last thing we need is for bad debt to be brilliant but no growth - its the balance that is critical. You can be the judge based on this view.