$24 price target, page-4

Well i'll try and put a gillard spin on a poor report.
First one way to fill the masters carpark is they will now start to lease part of their empty masters carpark to other retailers eg petbarn,bcf etc lol management suggesting this was part of the longer term plan.
second,I believe at least in theory the acquisition of summergate apparently a leading wine and drink distributor in china makes sense eg wow experience in alchol businesses,chinese FTA and our much lower aud.
third the acquisition of hudson building supplies and belmont timber and h/ware nice fit with home timber and h/ware which actually does quite well eg increase buying power and provides more experience in owning hardware businesses that actually make a profit.
ps while as i have said before its my smallest holding wish i trimmed 50% the day before,and i almost did but i chose to stick my head in the sand.