The weakest link in our income portfolio is telecommunications service provider, Service Stream. They made an announcement yesterday essentially due to rising pressure from investors around the performance of their share price. Companies go into a blackout period before releasing results and SSM’s started yesterday, so they had to pipe up now or hold out till their results at the end of August. The announcement reconfirmed their guidance which is good and addressed external growth opportunities, it provided more detail on divisional performance, touched on COVID impacts and said they remained confident in the fundamentals of their business. Not a lot of new news but an acknowledgement by the company that the SP is an issue. We have a small 3% position that is underwater.
MM will review SSM again post results in August
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