Why Shell and BP Shares Aren't Surging Is a Mystery to me. But You Might Want to Invest in Case the Dam Bursts
A half-year results announcement last month from Essentra plc (ESNT) included “we are now trading ahead of 2019 levels with Q2 revenue up by 2.5% LFL”. The market cap at the end of 2019 was £1.13 billion. At a current 287.5p offer price, it is £870 million. It may not be the most exciting company on Earth but that is usually not a bad thing. We regard it as a recovery buy.
Back in early March I wrote some thoughts about Essentra (ESNT), which describes itself as a ‘three global divisions’ business active in 34 countries and having 50 principal manufacturing facilities. After appraising its business I bought some shares a week or so later...and judging by today’s share price have made absolutely nothing (admittedly after putting aside the volatility of the last month or two in many parts of the market). So what do I think after today’s first half numbers?
Who's a clever boy then? Me. I hope that you are happy holders of Aggreko (AGK) on my advice. Send the thank you ouzos to Tom as I do not drink.
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