Bull case, page-24

@qwerty - why would you spend more money on a category that you already have a business in? There is an argument for consolidation, but would prefer them to target a different market segment.

SHP have a decent asset in YourHomeDepot and I would prefer to see them growing this and marketing it and growing the businesses organically. They are expanding their range (Travel now added) and keen to see that continue along with more promotion.

Likewise, I would prefer to see them launch HomeAppliances.com.au before doing another acquisition...they need to illustrate that they can grow online businesses from startup through to contributing to the bottom line for SHP shareholders before the share price will really take off.

I am not saying never do another acquisition, just would prefer it in a different market segment to broaden the businesses offering.

Warcom and eStore were similar, but I feel Warcom was more B2B and eStore was more B2C....Warcom new website is more B2C friendly though.