Ann: Trading Update, page-49

ATM many growth companies are trading at P/S < 1

I like AMS products but math just doesn’t make sense here. They are reducing margins & revenue forecast however in the current circumstances revenue can be affected but if your product are niche then margins must not drop.

I work in the electrical sales, customers are ready to pay any price atm because of lead time on electronics components are more than 6 months. Hence margins are improving but cash flow is stuck.

adding marketing spend on top of lower margin in forward looking scenario, AMS is in hot water and recovery will take couple of years.

I will chuck decent holding in the bottom draw for couple of years at Covid low price. There is value in the stick but no decent recovery anytime soon especially in the riding rates environment.