Gateway is not a wholly owned subsidiary of LBL & is still run by its owners. There is no much in the way of integration costs. LBL gets its 40% share of Gateway EBT & pays tax on it. The fact that LBL's revenues have increased to over $50m threshold (even if this not recognised in its B&L statement) , its tax rate has increased to 30%. ---------- It is clear that growth has stalled this year, compounded by margin contaction. Gross Profit Margin is great but the cost of doing business has noticeably increased.
LBL Price at posting:
67.0¢ Sentiment: None Disclosure: Held
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