Camden55, thanks for your detailed input. I too share some...

Camden55, thanks for your detailed input. I too share some concerns for this stock and the local competition they are facing.

As you have described, there is an increasing promotion expense to combat this. However what also has increased has been the dividend payout. So although normalised ROE has dropped from 55% to 46% over the last 5 years, I think I'd be hard pressed to find a another company churning out these reasonably steady figures.

Whilst I have trading stocks in my portfolio, this is one that's been held since 1997 @ $3.91 and topped up again at $17 in 2009. Of course, if the SP has doubled in the last 4 years, then any dividend is twice as good.

I've also been bitten many a time trying to pre-empt movement in direction instead of 'letting the profits run'.

I'll continue to hold until some longer term moving averages suggest the day has come. I do however share some of your wariness as to the future.