To be honest, I don't see anything concrete in this trading update that suggests anything other than "business as usual". They quote an increase Y on Y of 35% for a 5 month period July-Nov, but last quarter they reported 40% Y on Y for just Q1. The numbers are suggesting to me a ~30% increase Y on Y for Q2, which is good, but simply following trend. The new "pipeline" of work sounds great, but is not yet showing up in the turnover. Personally, I'd like to see firm evidence that the gross margins are increasing significantly before I get excited.
All IMHO, DYOR
TNT Price at posting:
11.0¢ Sentiment: None Disclosure: Held