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Service Stream (SSM) 85.5c

SSM +7.55%: 1H22 results released today from the network services company showed a turnaround that is building momentum following the large acquisition of the Lend Lease Services division. Revenue was +38% at $566.2m, ahead of expectations while EBITDA was largely inline. There was no dividend declared however that was inline with recent comments at the companies AGM. We own SSM in the income portfolio , it’s been our weakest position however we’ve remained patient after a tough few years, and we think that patience will be rewarded.

MM is bullish SSM
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Service Stream (SSM)
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