GEM +4.98% Held their AGM today and while there was no real new news, that is a positive outcome for a business undergoing a turnaround amid challenging operating conditions. The childcare operator has done a very good job in recent times to improve occupancy which will continue to drive a recovery in earnings, while maintaining a solid balance sheet and more recently, buying back stock. Today’s share price reaction highlights the progress being made and supports the view MM took to remain patient in the position we held in the Income Portfolio.
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Buy Hold Sell: The best and worst performers of FY25
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Wednesday 2nd July – Dow +400pts, SPI up +18pts
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Tuesday 1st July – ASX +10pts, HMC, IFL, SGH
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MM remains positive on GEM as the turnaround continues
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