So at $3 I believe we're looking at a PE FY11 of around 5. Not bad.
***Some caution***
a) an agricultural business, so anything can and will go wrong (floods, droughts, commodity prices, etc.)
b)Value added business. Relies on supermarkets mostly continuing to stock our products and allow us to raise prices if input costs go up.
c) Korda & Co. chasing us for perhaps $8mil relating to 2006 crop.
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