Another terrific result from IFM Has all the factors we're looking for:

Sticky customer base
Growing and recurring revenue
Constant Innovation
Cost control
Quality management
Significant barriers to entry.

UCP has held IFM since they were 23c but they are starting to look fully priced.

Plenty of larger holders scrambling to the exits post this recent run. I'd be holding them for now but with a market cap at 22x forward NPAT, the earnings yield has drifted under 5%. These guys almost always under-promise and over-deliver and with vehicle servicing becoming ever more complex, they will continue to attract customers if they continue to execute. Macro environment for these guys is strong and they are playing in an industry fit for the times.

HOLD for now but I'd be lightening over $1.20.