Ann: Half Yearly Report and Accounts, page-56

Masters 5 minute strategy on how to conquer the home improvement market with no experience, no property and no idea what either was worth LOL.
HVN has been built over decades, opening stores, closing stores, refining strategies, competing, riding out up and down cycles, retaining earnings and reinvesting in the business in a careful and calculated way.
Masters came in with a big cheque book and thought they could take out the establishment in one swoop, they were wrong.
HVN are the only business in this sector that has stood the test of time in Australia.
Yes Dinosaurs were wiped out but it took a few hundred million years
HVN is yet to see it's all time high, retail will turn more positive and get a multi year boom just like every other cycle the economy has ever seen.
The housing boom for prices isn't when HVN fires, it's when the building boom caused by the boom in prices kicks in that HVN hits it's stride, that peak is not here yet IMO.