Ann: Investor Presentation, page-2

Well this does explain the game plan for NS in a lot more detail. It gives a summary of how they plan on increasing growth. Personally I'm not convinced they will be successful in their growth plans for the following reasons:

* Revenue is forecast to only increase by $2.3mill in 2020 giving an EBIT of $6.755mill. It's not going to take much to significantly affect that figure on the downside.
* Says FY19 results were impacted by AUD weakness, average fx .714 in 2019. Well this financial year the average fx is significantly lower than .714, closer to .68 and recently hit .665.
* Says impacted by generally weaker economic conditions for retail, well it hasn't been better in FY20. Additionally all NS main brands appear to have seen significant revenue falls in the last couple of years.

Really the growth they're banking on are additional brands to the portfolio , these are pipeline negotiation amounts, and in-house manufacturing but that's only for up to 20% and the setup costs to commence manufacturing is going to far outweigh initial COGS gains.

Not much has changed. I still just can't see why they didn't give up on the NS acquisition idea and just continue their path under the Wellfully name from pages 14 to 18. That Reduit information would have struck a match under that rocket. Still mesmerised by the $85mill acquisition cost.

It's done now, let's see what transpires.