Wow, mate - talk about taking a snapshot of the situation...

Wow, mate - talk about taking a snapshot of the situation without applying any perspective. I'll post a proper reply backed with some numbers early next week - but in the meantime the only issue with this company is the declining margins in retailing in Australia. They have countered this with the US expansion - which will start to show in the results for this half. I'm expecting earnings before expenses of circa 20 million for the full year from that enterprise. This will go a long way to offsetting Australian retail margin loss.