Um, not wanting to rain on the parade, but Veolia has been a...

Um, not wanting to rain on the parade, but Veolia has been a client for the last year or so. There may well be a new deal that's been signed, but Veolia was listed as a client in presentations last year.

Regardless of whether there's a new or expanded contract, PEH has a significant number of blue-chip clients and a massive opportunity for growth. It has flown under the radar for quite some time - developing world-class technology, expanding its client base and formalising excellent partnerships. You can sense a real excitement coming from the team now, and as far as I can see, continued growth and success are almost a given. It is a great time to be accumulating stock.