Ann: Presentation - Shaw and Partners Data Centre Conference, page-5

Never expected this to be trading up here. A few years ago it was in the forties (cents) and barely covered despite having decent dividends and a substantial cash and debtors balance.

Now it's another darling of the data centre boom. Still holding plenty but happy to take a few off the table at these levels. Some great contracts and opportunities (and well done to management on their acquisition selection and execution) but some of these larger contracts are not without risk, particularly when there's a bit of inflation and competition for skills about.