They are re-entering the Fitz lease that they used to use pre. the feed issues. There is low level of capital expenditure still to be paid for re the expansion. The investment is now in the form of growing the fish to size onshore in the nursery pens before release. Large fish make up the majority of their sales & it takes time to growth to size. H2 is the growth season & hence the requirement for higher feed costs.
I'm confident that they are managing the ramp up of production insync with the sales growth demonstrated with the consistent conversion of visits to new chefs & intention to buy over the last year or so.
CSS Price at posting:
$1.05 Sentiment: Buy Disclosure: Held
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