I think that is spot on. It then can become a strong small cap with a good valuation while it captures more of a market it already knows well. There is huge growth untapped still in Australia.
My second thought is this also means we become less reliant on global income, currency issues, and can build a better "Beach Head" to then land and expand at the right time.
I dont see how an already small team that is not as already as focused as it could be would then try to focus across 2 massive markets with different time zones and challenges with the resources that are already thin..
It also removes the element (although temporarily) of the risk of being yet another failrd overseas expansion plan.
I'm more inclined to stay holding with a refocus domestically.
As I said before I don't expect with the half earnings and full earnings to rerate the share price much at all not with the poor EBITDA it showed. I said the rerate based on a multiple contraction is likely more in line with the earnings guidance for full year.
I think the rerate will happen FY26 and FY 27 so it's a "patient" hold for now .
LBL Price at posting:
38.5¢ Sentiment: Hold Disclosure: Held
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