Some good points @CASPERBAK - note that their land holding is valued at cost circa $86m and on current valuation carries a circa $14m buffer at valuation - more than comfortable with that buffer. I think the WA market (which CLX are most exposed to) seems to be one of the stronger markets especially with mining remaining very solid, was expecting a pick up in the taxi truck / courier business especially on the eastern seaboard on the back of Covid implications. Happy to see them continue to pay down debt, will be good to see their reporting - last year on the 31st of August to get an idea of where things are at. Debtors will always be a struggle but not picking up customers freight provides them a pretty good bargaining chip if it gets out of hand. DYOR, am of the thought this remains considerably undervalued - must say freight is not my favourite business but believe the undervaluation provides considerable wriggle room for a minimal moat.
CLX Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
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