Perhaps we need a sense of perspective.It's also difficult when...

Perhaps we need a sense of perspective.

It's also difficult when the media and society claim that good things occur instantly to realise that patience can be a virtue. We want improvements to be faster than 5G speed, including in company earnings and dividends. One suspects it's not always as simple as that.

Moorebank is a very large project. Most of these (private but especially when there's intermingling with the public sector) tend to run over time (and public sector ones over budget).

Port volumes must be improving with the good inbound consumer demand in Australia, and with exports, excellent agricultural performance despite mainland China doing its best to hit Australia's balance of trade. Some sectors such as wine have had problems diversifying but others like grain merchants have largely successfully achieved this, nit that it's been super easy.

Rail volumes look good: facilities such as QUB's newish Quattro grain receivals at Coonamble, NSW accepted part of the bountiful winter crops in that neck of the NSW woods.

Maybe the prices being demanded for acquisitions are unrealistic so as you imply, QUB is holding its firepower.

The worst that could have occurred (but won't) would have been QUB's Board having a rush of blood and purchasing at inflated prices parts of the Toll businesses that were up for sale, and finding subsequently that they remained unprofitable.