A walk down memory lane. In 2008 ,LBL acquired Gladstone business Peahey's engineering for $3m ($2.5m in cash & $0.5 scrip).....Peahey's then had revenues of $6.8m & EBIT $1.4m. The GFC hit & Peachey"s was loss making & a major drag on LBL. In 2013 LBL sold the business for a measly $750K. --------- Of note....LBL acquisitions or organic expansion haven't been extremely successful. Peachey's was a disaster. SA expansion & Melbourne acquisition faced early teething problems. They mentioned that QSP will be the most successful to date.......Not hard to imagine.
LBL Price at posting:
92.0¢ Sentiment: None Disclosure: Held
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