Ann: FY2018 Trading Update and FY2019 Outlook, page-52

Pretty happy with the first 30 mins trading. Green close looking quite possible. IMO after a few months of consolidation we are sitting at around fair value. We should begin to see normalised SP appreciation moving forward. Of course, the company has a habit of creating exceptional investments and partnerships, as well as the possibility of share buyback - we could still see some one off sharp SP rises over the coming year. My prediction for FY19: A move into Canada and Japan, milk in Canada, IF & AMD in Japan (as well as first revenues from multiple markets through Fonterra). My thought is that there may have been a handshake agreement between a2 and Kirin on the premise that Kirin would distribute a2 products in Japan in return for dropping legal proceedings over lion labelling case last FY.