The business clearly stated that they expect double-digit sales...

The business clearly stated that they expect double-digit sales growth for the second half (compared to H1 2018), the size of which will only be apparent in the next quarterly.

The key factors in this growth have been stated as:
- The MD Double Cream going into Coles supermarkets nationally in Q3
- Pyengana's new milk products contributing for the full quarter, instead of 5 weeks in Q2
- Expanded dairy sales to mainland market (I expect this to have a bigger impact in Q4)
- The ongoing expansion of Nichols poultry as they struggle to meet demand

To me, it just doesn't seem like double-digit growth will only be 10% this quarter. Given our highest volume products, MD double cream doubled its ranging nationally and Pyengana milk will contribute for a full quarter, I am expecting 15% plus growth.

That means revenue/receipts could be about $10.5m this quarter and at least that again in Q4. This would see at least $21m in revenue for the second half and likely see EBIT at least break even.

I am looking forward to seeing what they do with the Van Diemen's Land brand now that they have it registered both here in Australia, but also in China.

I still think this is seriously undervalued at 16 cents, with a market cap of $33m. I expect we push back up to 25 cents before the end of the year, which would be a market cap of roughly $50m.