noomxx, agree, and on top of that, I'm worried the HwB division...

noomxx, agree, and on top of that, I'm worried the HwB division is already or will be suffering from lower B2B and B2C spending,.

An additional caveat is hampers may have somewhat 'gone off the boil' since COVID-19 is perceived to have ceased among the vast majority who don't reside in nursing homes.

Hindsight enables me to be a temporary 'smart alec' so one questions whether PTL purchased HwB at top of cycle.

It's anecdotal but PTL White King products seem to be discounted less in COL/WOW..I was at a mid-sized IGA yesterday near Albury, NSW, purchasing market leading WK toilet gel for $4.50. Normally at COL/WOW it has risen substantially in price to retail at $5.60, so this seems to one example where PTL has succeeded in passing on some or all of its input cost rises.

I am slightly surprised PTL hasn't received a takeover offer, given how PTL via White King beats the multinationals like Reckitt (a truly 'woke' company - see website) at their own game.

PTL recently has paid a good little dividend, but not much good if the capital value of holdings falls, or if one wants to sell but can't at a perceived reasonable price, due in part to illliquidity.

Like you I am sitting on the fence. PTL however hasn't announced a material downgrade to profits. (ELD is a recent case study in a company arguably 'hiding' information from the vast majority of 'the market', so not as if this doesn't occur in Australia).