Ann: Appendix 4D & Financial Statements, page-26

It’s easy for us as Australians' to believe that things are returning to normal. This is not happening overseas especially in Europe. Governments and health departments are concentrating all their energy and finances in solving the COVID crisis that has barely touched Australia. We came out of this relatively unscathed, with government propping up business,health and people. Not the case in Europe with countries still locked down and cases rising not falling.
It could be another year before things are normal in many countries and economies begin to recover. Phillips will have their hands full dealing with the current crisis,Painchek would be low on the priority list for some time.
This is definitely a hold for a while stock, I too have been tricked into believing overseas travel and tourism will be back to normal by September. It’s the media making us believe the rest of the world will come out of this as quickly as us. Definitely not the case. You will not be travelling to Europe or the USA by September, vaccinated or not. They will not be ready to accept visitors or deal with anything but their own issues with COVID.
This will therefore slow all trade down including health apps and FDA approvals and trials.
I am happy to hold and this is a deadset bargain.
imo.