Hmm... It looks like BSL is growing and doing okay to me.
Outlook from the half-yearly report in February 2015 said:
- 2H FY2015 underlying EBIT higher than 2H FY2014 EBIT by up to 20 percent.
- Ongoing business growth and benefits from falling AUD, but falling steel prices will compress margins in 2H FY2015 compared to 1H FY2015.
- Expect 2H FY2015 underlying net finance costs, underlying tax rate, and profit attributable to outside equity interest to be similar to 1H FY2015.
- Expectations are based on spread, FX, and market conditions.
Also, note the housing boom in Australia. Extract below from a May 1, 2015 article:
Australia is in the middle of a construction boom. Over the past six months, more than 100,000 new dwellings have been approved, taking the annual run rate to about 220,000 new dwellings. That’s the fastest pace of home construction in twenty years.
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