API have demonstrated they have a very successful business model...

API have demonstrated they have a very successful business model that continues to deliver. Recent price appreciation suggests investors are looking "behind the number" and piling in. It's speculative, of course, but driven by some reality. Moving to a positive PE, certainly helps, as does the company's FY guidance.

(WARNING speculation following!) I wonder, however, if one of the big retailers is sizing it up for acquisition? A lot of talk previously was about the threat that Coles and WOW represent to API should either choose to enter the chemist market in a big way. It actually makes more sense, particularly given WOW's stumbling entry into hardware, to simply buy an existing chemist chain. Certainly as much sense as buying petrol stations and pubs!

Just a thought.