ST1 -1.45%: the small telco was out with a trading update this morning which looked ahead of expectations despite the stock falling on the day. Spirit, which offers telecommunications, cloud and security services to Australian SMEs, has seen revenues of $35.7m so far in the second half of the year, up 150% year on year, though this does include a number of acquisitions. They are also expect to continue the acquisition spree with $23m in balance sheet capacity. They have caught on to a tailwind here, and look set to kick off FY22 with strong momentum as it starts to scale up and become more profitable. Overall, a solid update from ST1
MM is likes ST1 around 34c
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