Everyone should be glued to the track running of the presidential election in today’s market, which Trump eventually won, hence there are little focus on results elsewhere. Anyway, it’s been a while since I last reviewed my position on Kingsmen, so thought I will do a quick throw on my thoughts.

• Q3 is generally not their strongest quarter, which is why you can see that the bottomline is barely positive.
• Gross margin has dropped to 23% and while the drop may seem small, it signifies the case where they are in a very competitive industry operating in a difficult environment at the moment. Though, I still believe they have a moat in the business and operating in a difficult and competitive industry is not easy to swallow.
• Order book demand are still strong and you can see this in their secured contracts to date at ...