Nice sequence of events on this company : - first, announcement of strong Q1 24, both in terms of sales and margin, - then the main shareholder buying more shares (21,498 shares at 2.11 $), for the first time since the end of 2022, - and yesterday, the company announces that it restores its final dividend (16 c unfranked) and will also consider restoring interim franked dividend in FY 2024, if trading conditions remain the same.
Obviously, it shows that the company (and its main shareholder) has more and more confidence that there is a solid recovery for their business. It seems to make sense given that it is supported by a lot of different elements, both for them and the sector. Another detached house construction company (Simonds group) had also a significant margin improvement during Q1 24.
I also made a comment about this in another thread in ASX-General: "2 construction companies related to detached houses show significant margin improvement during Q1 24".
TWD Price at posting:
$2.30 Sentiment: Buy Disclosure: Held
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