Growing telecoms company with 90% recurring revenue at 13x P/E, and >20% ROIC

Share price at a 6 year low may be a good entry point

Investment Thesis:

Gamma Communications (GAMA) is a business communications software services provider, trading at 13x earnings, growing 5%-10%/year, with 90% recurring revenue. It has ROIC and ROE of 24%, and has just made a significant acquisition in the German market, which is growing at a CAGR of 15% 2025-2030. Due to promotion from AIM to the FTSE 2…