Ann: Completion of Placement and Institutional Entitlement Offer, page-22

Fool proof hmmm , IBIS last year included the average profit in their reports for Australia it was 6% meaning some would be higher and some lower but the large bulk were around 7% dragged down by a few insolvencies.This fin year they were predicting 10% growth in revenue which will not be enough to keep some operating with the same cushioning as more than the 10% will be absorbed with more replacing parts,my guess is this is why AMA will go down the after market parts road but they are not alone,one can research now its not hard and after market sales are red hot.
In a nutshell we will see more operators try to go large and snare high volume fast moving work so give it a couple of years and it will be competitive amongst MSO's. Expect different business models to emerge.
Just a note the only MSO globally that hasn't got in the s++T is Nationwide (previously insolvent) bought out by Redde Northgate reason being they feed their own body shops with their own work that being leased vehicles and have their own assessment operation so its much different from our operations.