I was at the AGM personally. Chairman clearly explained that in order to release and build value over the longer term there is significant capital to expend creating efficiencies. For example, they wish to automate the CH2 warehouses in Brisbane/Sydney/Melbourne. Brisbane first off , then Sydney then Melbourne. 2025/2026 FY for Brisbane then 1 a year after that. Plus any other opportunities. Did an Immunolab tour whilst there. Lovely modern space , HEAPS of room to expand. I think there are good reasons to believe we will see steady growth . Apparently the hospital equipment side of the business is quite slow b/c hospitals all over the place, not just Australia, are challenged for $$. No reason though that the rest of the business cannot grow. Also, as they stated.....EVENTUALLY the hospitals HAVE to buy new equipment. Met John Walstab....I have long thought he is a good man and asset to have in our stable. Anyway, that is my personal impressions.
PGC Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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