On the question of tariffs imposed by the United States, I...

On the question of tariffs imposed by the United States, I haven't been in touch with the company to ask if SRH's products are potentially affected. But I don't think there's too much cause for concern.

Yes, a tariff on SRH's products going into the US would, all other things being equal, make SRH's products more expensive relative to any competing products produced in the US. In this event, SRH might have to lower the price of its exports to the US in order to remain competitive (which would adversely affect SRH's margins and profits).

However, all other things are not equal.

For starters, the $A has depreciated substantially against the $US over the last few years. As a result, SRH could lower the $US price of its products, while itself receiving an unchanged $A price. This would increase the competitiveness of SRH's exports to the US while maintaining SRH's margins and profits. A weak $A acts to offset some (or all) of the impact of a US tariff.

Second, if US-produced products have components that are imported from China (or from other countries that the US imposes tariffs on), these imported components may be subject to US tariffs. If this is the case, SRH's US competitors would also be adversely affected by tariffs - thus helping to level the playing field.