The large impact of fish stock changes on the P&L makes profit...

The large impact of fish stock changes on the P&L makes profit result less reliable in measuring business performance, IMO.

I am trying to stick to FCF. Looks like FY18 won't be great because of feed growth but FY19 should be fantastic with full year impact of reduced processing costs, increasing sales, new channels open due to the benefit of the freezing tech, etc.

Feels like at the tipping point here so a lot of value to be had going forward