Ann: Annual Report to shareholders, page-14

In case you have not seen it, quite interesting to watch Four Corners (17/7/23) : "House of cards : inside the broken business of building".
A good reminder regarding the level of risk in this sector.
2 elements in particular :
- very low margin in this sector (the average net margin seems to be around 2 %; Metricon CEO confirmed that it is the margin of his company),
- mid 22, Metricon was in deep financial trouble and required a capital increase of 80 m AUD.

In this difficult period, Tamawood has proved that it is quite resilient :
- unlike Metricon and Simonds, they did not require a recapitalization,
- Tamawood has quite good net margin versus the rest of the sector (their net margin was 4.3 % on average during the past 5 years).