I do think that the US was a miss but if it is a hard market that might justify using a bigger hammer while you have access to it. The rewards look pretty good if they can crack it and they seem to be making some traction.
UK not a miss. I think the reason the UK business is going to remain break even is due to the expansion of the product range in that market. Again I am happy with that as it shows further market development. Reinvesting the profits of that market into the growth of that market is smart.
Direct China sales above my expectation was a good positive.
I would not contribute a large EBIT factor for the NZ market either it will also be hard to crack once they can market their own product here. Then again it was smart focusing on AU/China/UK/USA before NZ. They are actually well position to have crack as NZ due to the positive cash flows keep in mind NZ has a pop of 4.5mil ish so small fish.
Can't comment on the resource company as I know nothing about and how it came to hold the cash on hand.
It could have sold its cash producing asset and now has the cash in the bank generating 4% return.
Yes 69Mil is chicken feed but it is growing while at the same time they are investing in growth which is proving to be effective and this was my point.
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