SND 0.00% 87.0¢ saunders international limited

Not obvious to understand why there is not more interest for...

  1. 4,339 Posts.
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    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").
 
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