Infrastructure is in fashion — it’s being snapped up all over the place. Witness the recent takeovers of P&O, Associated British Ports, and BAA.
Compared to many industries, revenues are perceived as predictable and cash flows strong, so these companies have a welcome place in many investment portfolios. That may be why a rather minor profit warning from Forth Ports (LSE: FPT) yesterday has taken 5% off its value since Friday….
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