Despite a rather unbalanced order book, Servcorp stock looks interesting now.
The market had time to digest the news that there won't be any listing of their Middle East operation in the short term.
Anyway, good to know that operations there were still positive during Q1 25.
So, the valuation continues to look interesting with a free cash flow yield of around 12 %, while the company is expanding its operations.
Servcorp probably benefits from the good resistance of the job market in a lot of developed markets.
The company has also indicated mid Nov at its AGM that it expects a dividend FY 25 of at least 26 c vs 25 c for FY 24, based on higher cash flow in FY 25.
Alf continues to regularly buy stocks on the market.
Of course, we may wonder if he will try another way to better value his stock, as the Middle East listing has failed.
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