IMO, if you can make a 5% profit, with very little risk when starting a new business line that is great.
We saw a couple of years of heavy subsidisation of the USA business, holding the overall result down.
Now we can look forward to the USA business adding to the bottom line. I am not sure the market has really been appreciating that, nor the barriers to entry in the industry.
For the market leader, huge growth in the bag etc, IMO they are trading on quite a low PE.
Entropylord
new sales to usn, page-2
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