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d.b. had a good look at annual report - plenty to like but i...

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    d.b.

    had a good look at annual report - plenty to like but i guess what will hold them back, besides new competition in ports and fed gvt threatening to build in competition to them at moorebank is: the amount of revenue that goes on wages

    sure, there looks to be fairly generous executive arrangements, some of them legacy ones but the overall wages bill is astronimical - it was up near 40% of revenue

    any more industrial action and/or wage claims and it really is a big blow to them in terms of profitability!

    I still like the stock and was thinking of buying more but i guess the above has slowed me down - bear in mind they are in "transition" and in a state of flux and bedding down new acquisitions - there could be more upside than we saw last year!
 
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