"I wasn't intending to discredit the CFO's ability to thoroughly read a balance sheet if that's how my commentary came across"
No I was not inferring that .
"and maybe I should stop harping"
Always good to stress test the argument .
LBL did buy a business in QLD previously think it was at Gladstone , that did not work out well , from memory due to a drop in the coal price causing reduced demand for their services , I think the owner of that business was a family called Peachey who became shareholders of LBL may still be in the top 20 .
I suspect this acquisition being so close to Brisbane has a customer base that is not mining reliant .
I would think the $1.1 NPAT is transferable and some due to synergies and marketing opportunities (utilise LBLs inhouse sales people in QLD) , time will tell .
Synergies example - LBLs Sydney workshop has large gantry cranes , work that QSP may have had to turn away due to excessive size, LBLs Sydney workshop may he able to handle .
This still does leave open an opportunity to expand into WA .
LBL Price at posting:
92.0¢ Sentiment: None Disclosure: Held
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