Good presentation - very clear that the investment undertaken hasn't quite had the impact they want just yet (and won't for a few more quarters), but also really clear on what the future potentially holds. I think the WA and QLD businesses are absolute no brainers, and I would expect that margins from these can increase rapidly as efficiencies are made and customer bases better understood. I always worry about international frolics, so hopefully whatever acquisitions are made in North America don't require an enormous amount of cash up front - it's obviously a great potential spot for LBL's products given the size and scope of their heavy industry adjacent markets, but that doesn't always mean a customer base is easy to claim.
I'm in for the long haul here.
LBL Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
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