News: KKT Konekt Ltd updates on outlook, page-16

I luckily managed to sell my parcel before this news broke. When I looked again at the Annual Report I discovered that customer concentration doesn't seem to be getting any better as the business has grown with 1 customer representing 30% of revenues in 2016 (I assume this is MHS although another represents 13% or $6m). Given the this is a contract business with a preference for using a permanent rather than casual workforce and so has a mainly fixed cost base I decided customer concentration risk is too great and sold. I still think its well run but that doesn't change the business economics.