Ann: Bell Porter Conference 2023 and Crop and Market Update, page-7

Select harvests had a food division if you look back to 2021. It was sucking away a lot of corporate time and expense and the div was making losses, and tied up 50 to $100m of shareholders capital and borrowings.

They think they are going into vertical integration because they want to have a bit of fun, with something more complex. But they clearly lack of any edge or advantage. How are they going to economically compete on almond milk and almond spreads? They must be IDIOTS! It has only been two years since the last learning experience!

Diversification into WA for Almonds was a disaster as well. https://www.businessnews.com.au/article/Select-Harvests-limps-out-of-WA. There was a $50m or so loss on that adventure.

Growing other nuts is very specialised as well, and very different to Almonds. They aren't even doing a fair job of Almonds yet. I was hoping some focus would be coming. But nope - fantasy land!

The Almond market is huge and lucrative - focus and win!