A lot of this business is goodwill, brand, like many things. Im...

A lot of this business is goodwill, brand, like many things.

Im going to trust management here on Daou, look at what they achieved with penfolds finding other markets when the China tariffs destroyed the best business unit in the company. They are great marketers, so I’m going to assume they think they can replicate that via Daou and Franks in the USA premium strategy.

The message here is clearly growth. I know a lot of analysts spat the dummy over this raising and wanted a penfolds focus with a buyback. Fair enough. However time will tell what’s going to be more successful. A multi country growth story will put a rocket on the share price if executed properly.