or be more conservative and say 5% royalty on what may only be a 25% net margin may be quite steep for the royalty
realistically we should only be getting royalty amounting to a share of the cost saving or sales benefits that using M&G would give them, so a 5% royalty (20% of their profits on my guesstimating) already seems quite a lot I think.
Just thinking aloud ...
ADO Price at posting:
8.4¢ Sentiment: LT Buy Disclosure: Held
