One aspect needing clarification was that on 25 November 2022 at the AGM, the Chairman stated:
"...Needless to say, the completion of our new distribution centre and branch at Truganina in Victoria will be welcomed. We expect operations on that site to progressively ramp up between February and April 2023. A Heads of Agreement has also been signed to expand this site with an additional 2800sqm of distribution floor space, which we expect to be completed in around 2 years..."
So my comment above that the new facilities were completed 'quickly' wasn't correct, as like so many other Australian building projects, it ran late.
However, the end result was worth waiting for.
I assume the '2800 square metres' comment above relates to the vacant adjacent block that as I mentioned above, SNL has purchased.
No company is perfect but SNL seems good at planning for a bigger future.
SNL Price at posting:
$14.20 Sentiment: Hold Disclosure: Held
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