A few things around the traps:
- According to today's Financial Review, Grays Online is looking to merge with Deals Direct (MNZ is under trading halt pending announcement). It appears that their volume businesses could only manage waffer-thin margins ($100+m revenue, $1m net profit) and there should be some efficiencies from joining forces ... looks like the consolidation game is still going on. Could SHP be the next target? Quite possible if that the business plays its cards right, integrates YHD and Warcom successfully, get another acquisition of reasonable size and profitability similar to YHD through the door, and maintain cashflow positivity with the existing business.
- NAB reported a 0.9% increase in online retail spend in June ... most segments (which SHP has presence in) are looking healthy.
- 2nd write-up from The Next Tech Stock, following on the recent quarterly.
All in all I think is only positive for SHP in the medium term ...
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