Ann: Saunders Secures $20.59 Million in New Civil Contracts, page-2

Not obvious to understand why there is not more interest for this company :
- it has a good revenue growth (cf 12 %+ during H1 24, after + 100 % during H1 23) and a good track record*,
- just got major orders (20.6 m$ and 31.5 m$),
- good margins for a construction company (EBITDA margin of 7.6 % during H1 24 vs 7.4 % during H1 23),
- it has a good financial situation (29.3 m$ of net cash at 31/12/23) and produces a high level of free cash flow (23 m$ during H1 24, but the recurring level is probably more around 8 m$ so around 16 m$ annualised, still decent for a company which has a market cap of 101 m$ and EV of 72 m$).

Of course, the poor liquidity of the stock is not helping.

* cf their comment after FY 23 results ("4th consecutive year of record revenue and earning growth").