Morning Team - Good session overnight in US equities, risk was...

Morning Team - Good session overnight in US equities, risk was back on for tech and other growth areas.

Surprised no one mentioned this however Metcash announced HY results yesterday. Very pleasing result and confirms our thesis on retail liquor sales. Most relevant is that their Independent Brands arm (owns liquor chains; Cellarbrations & Thirsty Camel) had a 27% rise in sales throughout the half of lockdown/re-opening.

The CEO has also noted that sales have been strong in cities coming out of lockdown and anticipates this to continue during the festive season - “we are also expecting our food and liquor pillars to benefit from a strong Christmas/NY trading period and their extensive regional presence”.

The combination of existing buyers (both on/off premise) we now have going through the platform is what I’m most excited about. Restaurants/bars are completely flat out with end of year celebrations and liquor stores are about to go through their busiest time of year as mums/dads stock up for Christmas/NY.

Complete no brainer to be holding Dw8 right now. We’re in growth mode and are very well positioned to capitalize on market opportunities in the short term. The orders coming through Insider are also going to be a nice bump to results so well done everyone for chipping in.

Happy Christmas. Thanks silly retail for selling down a stock that hasn’t done anything wrong from an operational standpoint, I’ve been gladly accumulating.