Reminds me a lot of RXP back in the day. Every time they start to recover, another tranche of shares comes onto the market due to many acquisitions. My concern with TNT is the underlying growth. Cyber is shifting from a specialist consulting skill to a non-optional one so TNT should be smashing their numbers. The fact they don't mean there is still clearly an issue with utilisation or the value of their work.
TNT Chart, page-4885
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