Ann: Trading Update, page-10

I think on the fundamentals, it should do. Whether that happens today, or later, I’ve no idea. I’ve mentioned before that the strategic switch to direct business-to-consumer retail sales via their new online platform is going to have an enormous, and growing, impact on margins. If you look on their website, the prices they achieve for retail sales are completely different to those through wholesaler auctions. If they can continue to grow these retail sales (and remember this is a global market), there is almost no limit to what they can achieve wrt revenue growth.