SHP 987% up on FY14, page-6

I'm now holding E88, GEG and SHP as I see solid growth opportunities with all companies in the ecommerce retail sector. SHP the smaller of the lot. For me still undervalued compared to e88 and GEG. All long termers for me.

SHP has steadily transformed into a pureplay online ecommerce business over the past two years and the SHP Board were willing to shut down a profitable section of their business to pursue ecommerce. Plans have been in place since Crean took over as CEO for a mix of organic growth and acquisition growth.

For SHP, organic growth is positive based on the 4C. Acquisitions have stalled; although I did notice a change in the commentary around the 4C from the previous quarter which suggests that further news may be around the corner:

"Shoply continues to explore the market for further suitable acquisitions and remains in numerous discussions with other parties. We anticipate being able to provide an update to shareholders on this
progress in the near future".

Warcom and Your Depot were two solid acquisitions. More are required. Let's see what unfolds in the coming few months.