20% jump in NPAT.
Dividend up 50%.
A ROE of 20%.
Net Cash on the Balance Sheet.
Growing market share and margins, clear strategy.
Management with a very good track record, underpromise and overdeliver.
But no great fanfare and glossy presentations from VLS.
And importantly,
no love on Hot Copper.
That's usually the recipe for a great long term investment.
