As an addition, I can't recall that there has been any pandemic related tailwind communicated from management. If anything there has been a slight headwind from some difficulty in obtaining stock.
What that means is that we have to put this stellar performance down to the result of the substantial investment in the infrastructure (branches and DC's) in Australia in recent years. Yep, good old fashioned leveraging a fairly stable cost base. And I guess it matters little what product you're selling, when much of the gross profit flows through to earnings.
Going by history, it might be time to make ditch the 3 year plans for 2 year plans from here on.
SNL Price at posting:
$10.80 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)