In the FY update, BPM provides a detailed review of FY25 including two impressive disposals and continued investment in both new and existing opportunities. BPM’s focus on specialist risk areas with lower rate volatility provides some insulation against any softening. Consolidation trends provide a helpful catalyst across the portfolio lifecycle. There is plentiful cash on the balance sheet (£74m FY25, ~30% market cap) with an explicit commitment to return £5m p.a. for the next three years, augm ....
