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Two questions relating to ZIP. Can the US carry ZIP until Australia provides its market some confidence it can pay its way. It seems the US is using ZIP much more confidently than Australia. Do you see a time where the Australian arm of ZIP may be discontinued in the likely hood, the Australian market will continue to drag the chain? Geoff
Hi Geoff,
Over time, a faster growing US business will naturally become a bigger influence, by definition, reducing the impact of the Australian operation, though, we’re not there yet. For now, Australia remains its biggest contributor to revenue and earnings, so it’s not going away anytime soon. The stock has run very hard into the recent result, hence the big share price reaction, however, the risk/reward is now looking good in our view in the $2-$2.50 region, but it’s not for the fainthearted.
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