... So I posted the first post then answered it in about 2 minutes...
On page 41 of the annual statement... The number of birds held by the Company as at 30 June 2017 was 1,697,046 (2016: 1,492,793). The average output per hen is approximately 5 eggs per week during their productive period.
Combine this with the acquisition announcement that "The operation was originally developed to house 210,000 layers" we can make a real assumption that production output will increase by 12% through this acquisition. Albeit it will take time to fix the operation to the standard FRM want.
This really shows the importance of a strong cash position, yes we are not getting dividends at the moment, but being able to fund a potential 12% increase in production (approx $12m revenue/pa) from cash is an excellent position to have!!! FRM cannot control the feed prices, but what they can control is their cash balance and how they allocate cash to build the company - I am really impressed with what has occurred in the last 12 months.
FRM Price at posting:
$1.03 Sentiment: Buy Disclosure: Held
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(20min delay)