I'd say it was a direct result of the UBS report on SGP. They...

I'd say it was a direct result of the UBS report on SGP. They (UBS) think the residential market is going to tank by around 5%. My understanding is that VLW is still firing, though finance is becoming a more protracted event as an early fallout of the Royal Commission. VLW has a strong Balance Sheet and plenty of settlements about to occur in FY19. On an FY18 EV/EBIT of circa 6.3X its good value and pretty good as a divvy play in a Super Fund at a gross yield of around 11%