In his mid-twenties Wes Maas kicked off his business with a bobcat and a tip truck back in 2002. The MAAS Group how claims a fleet somewhere between 300 to 400 machines and a workforce between 600 and 850 a remarkable achievement for a young man in his forties.

MAAS Group floated in late 2020 at $2.00 and rapidly rose to $5.80 in June 2021 and currently sits at around $4.60. Their principal geographic operational area is western NSW.

Their core business has been civil construction, and extraction and supply of construction materials, this is their largest segment contributing around 25% of annual earnings. However, the business more recently has diversified into commercial and residential property such as apartments, self-storage and even childcare. This to me seems a radical deviation from their core business.

Such a deviation from their core business can be seen as smart diversification, spreading risk and enhancing income opportunities, or alternatively over stretching their management and operational expertise.

One to watch going forward with forecast net income over the next three years rising from $39 to $74m.