#FullerSmith&turner #FSTA
Returning to profit making now hosp re-opened
Positioned well in market against competitors within rate hike environment – only the strong survive
Assets worth more than the current share price (£400m)
Positive cash flow
Make sure you take profits at these levels on our way up to 1000p (Berenberg Bank upgraded)
Well run company
Good competitive position
Trading is tough, sentiment is depressed and the shares therefore offer the right balance between protection from falls and potential for gains
Book value is £380m (assets), shares trading at £401m – very modest
