Ok, wrt to EBITDA, I didn't say that correctly. Its the principle that matters. Forget about the formula. Construct an EBITDA as if bird additions are an expense (and so there is no flock amortisation charge) and make the comparison to cashflows as I stated. The point is, they match up.
With regards to your comments about this being non traditional amortisation charge, well yes I agree. But we are talking about a highly unusual situation, in that current assets are being capitalised.
I reckon it's pretty clear in terms of cash flows, but yes, we need feedback from all the chicken far. aficionados.
Eggcellent, page-106
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