"Looks like GUD spent some of the monster cashflow on buying a...

"Looks like GUD spent some of the monster cashflow on buying a European automotive specialist lighting distribution business RVX for $12m.
An acquisition within existing business units is the way to go at the moment. I am presuming this will be EPS acretive as it leverages the existing business."

All true, but a $12m acquisition in the context of a $1.6bn Market Cap business won't do much to move the dial (will add around $4m EBITA added to GUD's ~$210m EBITA expected for this year)

More relevant at this pint, I think, is what trading conditions look like over the next 6-9 months, and to the extent that the crummy BAP update at its AGM yesterday reflects challenges specific to BAP, or is indicative of a soft demand overall.

I suspect its a case of a bit of both (perhaps 40% due to the former; 60% the latter).

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