I actually thought this update was much better than expected given the share price plunge from $4.65 to $1.72 over the last 4-5 weeks. A massive 63% drop.
Trading Update Sales for January and February of 2020 were in line with expectations. Customer orders in March have, to date, been strong. RWC continues to monitor demand closely so that manufacturing volumes remain appropriate to meet sales demand.
Operations Update ..... With our in‐house manufacturing capabilities, global supply chain and robust inventory positions, we currently remain confident in our ability to service customer needs.
I topped up again below $2.00 before this announcement. Like I've said before, this company earnings should in theory be more resilient than many in the current COVID situation. It may not be super growth stock at this point, but it is very far from the train wreck in other sectors of the market. With a yield of around 4% and and 12x historic earnings, it is certainly has more medium term upside than cash. Hoping the recent bounce from $1.70 to $2.30 is maintained . Of course the market could see another wave of panic selling at any time, in which case all fundumentals just get thrown out the door.. So it's slowly, slowy..
RWC Price at posting:
$2.39 Sentiment: Buy Disclosure: Held
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