Oh and one more thing
The segment info in the prospectus shows that in FY13, the Kangaroo Island ferry had an EBIT margin of 13%. Head office expenses are included with the Kangaroo Island ferry so this under-estimates the EBIT margin somewhat. However Makris also faces head office costs - though his office may not be as big as Sealink
I suppose what I was thinking is that if the EBIT margin was 20% plus then it is more attractive to set up a rival service.
In summary, though Sealink makes good profits they don't make outrageous profits that deserve to be taken away by a bit of competition. But then again, maybe I am wrong....
Oh and one more thingThe segment info in the prospectus shows...
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