Ann: FY2021 Results Presentation, page-10

Reading a printed copy of the JLG FY 21 annual report closely, ts particularly interesting how the Chair and the MD commented on 24 August 2021 that 'strata represents one of our most significant growth opportunities' and then turning to page 19, the 86977 'lots under management' geographically stretch from Redcliffe north of Brisbane down to Sydney and the ACT, but the sole Victorian location is the Mornington Peninsula's Martha Cove on Port Phillip Bay.

There must be a lot of opportunity (at the right price) for further acquisitions in this fairly high margin, 'under the radar' business of body corporate management and the associated building services that JLG is slowly starting to amalgamate.

Immigration has slowed a lot given COVID-19 with it unlikely to ramp up substantially for another 18 months to two years (and there's a lot of community opposition to that occurring) but when it does some developers may again perceive it's time to start building more multistorey apartment blocks in the three largest east coast cities.