Hopefully HST will keep well away from FRR. First, FRR is far too dependent on CML for its business. Second FRR is mainly tied up with refrigeration - which offers very thin margins compared to air conditioning. Third McAlpine is waiting in the wings to snuff out the refrigeration manufacturing business not to mention its existing activity on the maintenance (refrigeration) side. Unfortunately for FRR, McAlpine can source its stock very competitively out of China so margins are just going to get thinner. HST is doing fine by moving away from refrigeration - not into it. And the share price seems to agree: $3.29 today with huge volume last Friday (another institutional buyer maybe, besides Westpac)
HST Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held