Ann: Completion of Share Purchase Plan, page-39

Agree with the hardware expansion. MTS does not directly compete with Bunnings in some respects.
Dont underestimate the petcare industry, its recession proof. People look after fur babies better than themselves. Would be interesting if MTS could acquire bigbarn pet care chain.
Dont know much about Autobarn's set up, however could be a good fit at the right price. Just look at Supercheap, and how well they have done.
In some respects, there are a lot of opportunities for MTS, as the success of MTS is in part logistics/distribution.
As for picking defensive stocks with a reasonable yield, its certainly getting harder. PTL is returning capital after selling the soap business and only the hamper business remains (and cant see it being stand alone listed company, but happy to be proven wrong). CSR another good play a little while back is off the cards given the takeover.
Will accumulate MTS for now at the dips.
glta