Transport Systems anyone?

I bought into this stock at the fund-raising and move to AIM from OFEX in early 2001.

Pretty unexciting so far, but the recent results in December look very promising - a profit is on the horizon, and dividends will be paid!

They specialise in road-repairs, focusing on the management of them - i.e. signposts, cones, contra-flows etc..

OK, its pretty dull, but this market is dominated by small indepenent companies. TSY's ambition is to become a big player in this area, so if it succeeds it could become a very large company.
I think their chances are very good - the nature of the work lends itself to economies of scale.
1) All kinds of rules and regulations have to be satisfied before the authorities allow you to tender for this kind of work, so start-up costs are high for first tenders, but minimal for subsequent tenders.
2) Ongoing regulatary changes need to be constantly monitored - the bigger the company, the easier it is to do this cost effectively.
3) The plant required for this work is expensive - a comany has to ensure it fully utilises its plant by having multiple contracts.

Point (1) and (2) give TSY a big advantage in tendering, that will only increase as the company grows - authorities are more likely to consider a company that has a proven track-record and a proven knowledge of what is required of them. Could snowball quite rapidly.

Pretty good risk/reward I reckon - a market cap less than £2M, good potential for growth, and should be profit making and dividend paying in the meantime.

Anyone else interested at all?