Ann: SWL Annual Report to shareholders, page-21

I don't know - that's a tough call, surely some parts of the business will turn a slim profit - and really, a 3% NPAT margin is all we're really looking for?

I think the business is worth more like $150m, it's growing and diversifying, expanding in NSW and VIC and is really kicking some goals. I saw one of their fencing signs near Mascot in Sydney and it was quite encouraging.

I guess to each their own, but the market will correct in the near term as the dividend yield is impressive. I'm in this for a while yet.