Directors' summary is most informative.Provided the targets were...

Directors' summary is most informative.

Provided the targets were not too conservative (or wildly optimistic), it's most pleasing that the company met all its three year financial targets.

Given its past history of quiet achievement, holders may not be surprised if it reaches A$200 million in annual revenue prior to the target of FY 24, but to some extent this is dependent on the economy. A 'recession', whether technically the case or just a perception, will not assist SNL to attain this goal.

State Premiers who love controlling the population (Andrews and McGowan #1 on that metric, Palaszczuk #3, Marshall #4 and Gutwein #5, with a long gap to Berejiklian - #6 - as the latter would prefer not to have to impose lockdowns and curfews) are a threat to SNL's turnover and hence profits.

Great explanation about how it's endeavouring to build at least a partial moat. Expertise and experience are key strengths.

Terrific to see larger premises required in some locations.

Supply issues from overseas must be incredibly challenging. Carriage of excess inventory is prudent, just as it has been for plumbing supplier REH.

Container ships are often running late due to port congestion in such diverse locations as Yantian (mainland communist China), Los Angeles, Sydney and Melbourne to name a few. On occasion, shipping lines may omit one of the three east coast Australia calls they had scheduled for a particular voyage, and the same applies if they're on an Adelaide-Melbourne-Sydney routing. This may need landbridging of some containers, typically (and rightly) by rail, generally Pacific National.

SNL is a business that ought make financial press headlines with its steady progress but remains a 'secret' with about 0.25 per cent the number of holders that WOW has.