Hi Stuey, I'd encourage you to do some research into this one.  I've been very bullish in regards to Shriro on this forum and some of my posts are included on the companies tab (I also made mention of them over the weekend if you scroll down the feed).  The AGM is next month and I expect they'll give us an update on YTD trading at that point.  I'm expecting 10-15% topline growth vs pcp.  Revenue in Jan and Feb were 11% higher than 2020 and for the remainder of H1 they will then be comparing against a COVID affected period in 2020.  In 2H my guess is revenue growth to abate to 0-10% vs 2020 as sales picked up in the 2nd half of last year.  Watchers of this are probably questioning what happens after that and not expecting alot.  I continue to think they'll do well into into 2022 as a beneficiary of housing construction incentives, particularly in ANZ. 

After that I'm not smart enough to know but if it does play out the way I've described over the next 24 months (alot of ifs I acknowledge) their earnings will be considerably higher and I expect the market to reward that sustained growth with a higher multiple so you'll get a double whammy of earnings and multiple expansion.  In the meantime they're paying 6 cents a year in dividends fully franked.  

If you do look into them I'd flag a couple of things that are potential issues/risks.  I don't like their internal ownership - the board member with the highest ownership recently left (the company he works for reduced their ownership below 20% and so no longer get an automatic board seat) - and this has left their board ownership very light.  You should also be aware that they don't own all the brands they're selling and are very reliant on distribution contracts. One of if not their biggest reselling agreement is with Casio and I have heard doesn't have a formal contract.  They've had that relationship with Casio for decades so that helps mitigate the risk but it's still a risk.  Anyway I hope this is some help.

[Held]