- 1. £ 14 m mcap, £ 65 m revenue2. UK new trend and decent growth plan, recently acquired business in France3. EBITDA - 4-5m so trading on 5-6 times ev/EBITDA 4. Loss making at PBT level but it is not a true measure given life stage of the company 5. Larger franchise opportunity exists 6. Management holds 7-8 pct and CEO is in place for a while7. Energy costs are going down and should help8. They rationalised quick commerce to 2 players and negotiated better rates. Loss of sale but better profitability 9. When it was at 38 p a year back,I was contemplating sizable investment but I could do small investment.. it moved up by 50 pct and back again to same levels10. One company with sizable investment as a group, we could end up holding 1%+ stake in the business ..11. Recession risk and changing food habit risk exists but I feel they are low or factored in given current valuation.
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