Ann: Media Release Full Year Results-TRS.AX, page-41

I agree that the SP fall is disappointing. I stand by my view that the SP got over inflated prior to results. I don't read much into the 3% today given all of the times TRS has bucked the market/over performed it's beta etc.

I'd suggest $9.50-10 is a major area as at those levels you can easily positively gear and interest rates aren't rising anytime soon. Who'd think TRS would yield more than WOW? + one never knows when someone (private equity) might pull a JBH and buy TRS, doubt it'd happen but every business has a price.

First half is what it is all about. If 1H sales numbers disappoint that will be key. I am happy to accumulate at these prices as I see a lot of upside and not much downside.