Im in two minds, no doubt is well priced for the last few years,...

Im in two minds, no doubt is well priced for the last few years, but so much has happened in the last 6 months that im not sure historical references are that useful.

Covid provided a years normal growth in demand for bandwidth, and likely gave a permanent boost to new business customers not just online presence, but moving more internal systems onto cloud etc, there should be higher than normal growth in fixed line.

Our larger peers (TLS,TPG/VHA, Optus) are being hit by lower mobile demands, handset sales, which we dont suffer from because we are just MVNO. At the same time Optus/VHA are buying out MVNO's and launching new brands, i guess trying to fight for market share and positioning themselves for 5G.

NBNCo starting to upgrade FTTN, and residential users have taken up NBN at higher and higher speeds, ABB listing, Southern phones moving to AGL, Uniti on a merger spree, i think there have been some other mergers of smaller RSPs. Residential could look fairly different in a couple of years. Our margins and TIO complaints have been improving, we havent started fighting for market share again yet, but i get the feeling it could step up its fight for market share.

Timor.Leste government did their approvals for the fibre to connect from them to NWCS a week or so ago, with aid money from the federal government, so we might hear about that in the new year. It could potentially also give us another connection to Indonesia (eastern side of the island), which could be a low latency route to some places done on the cheap.

NZ has seen slow and steady growth for 5 years now, its a potential wildcard for us, something could happen there to take more advantage of that strength.

Unlike most in the Telco sector we are profitable, have good cashflow, are stable, and predictable, which brings in different investors, we arent the speculative play we once where.

I think the market has changed, and so have we.

Im tempted to sell some more, will be more tempted if i see a bargain somewhere else, but i also want to wait till mid year results, for some announcements.