This purchase has taken a lot of cash out of the balance sheet,...

This purchase has taken a lot of cash out of the balance sheet, increased debt and seen the issue of 5.9+m shares. While the directors are suggesting earnings positive by year end (2024) I expect the net result of this transaction will hold back any increase in shareholder payments over the next 12 months.

On the face another good expansion, a large business in the North American market but appears fully priced. This appears a 'soft entry' into North America perhaps with bigger ambitions into the USA in the next few years.

In terms of significant contribution to profit > shareholder return we may be waiting to 2025. Long term investors for growth would see the current share price as attractive. Short-termers and traders are unlikely to fish in this pond until there is more volatility. Also weighing on the share price will be reference to debt (with current interest / borrowing costs) to fund this purchase.

All IMO. DYOR For me an opportunity to add to my holding.