I'd settle with that. BAL is still a baby in the global infant...

I'd settle with that. BAL is still a baby in the global infant nutrition market, at the macro level IF & organic food are both forecast to grow well over the next 5 years. BAL is expanding into an expanding pie so to speak, the real competition isn't A2 or Blackmores, it's Danone (aptamil, karicare), Holle & Nestle...

I think we will see Bellamy's step up their brand marketing now they have good distribution and growing market share/ brand awareness. They have spent almost nothing in the last 12 months due to the product selling itself and causing stock issues.