Ann: Change of Director's Interest Notice - D Ahmet, page-10

It was very pleasing to hear Mr David Ahmet (CEO) stating MTO would stick to its knitting and 'leave cars to the boys at APE') - I hold both.

Loved it when he said '...We're flat out now. Full steam ahead...' given that floods in late February/early March 2022 were a problem in NSW and Queensland. He said trading in March and April 'had been really strong', so again, terrific.

It sounds like a further accretive acquisition or two might be announced at the time of the next update. But he said he was a way off committing ink to paper re any such deals. Sensible not to rush in.

Great that it's paid off debt and is back to having an acceptable level of stock to sell.

While his view that the supply situation won't improve until 2023 is a bit of a downer, that he didn't seem too worried is a positive sign. After 33 years in the business one would assume what he doesn't know about motorcycles could be written on the back of a $1.10 postage stamp.

The interviewer asked him about possible expansion overseas. He basically said MTO was sticking to Oz and NZ but didn't rule out acquiring parts businesses.

Who knows how long it'll take grumpy 'Mr Market' to see the value here - perhaps 18 months to two years?

Turnover is typically small but those more affluent and/or wiser than me might well consider accumulating, but I stress: DYOR as I can't give 'advice'.