yep this is the same part of the report I was looking it. If you...

yep this is the same part of the report I was looking it. If you also look at the recent A2M report their IF sales have gone up from $184m to $340m in the last year. SM1 provides all of this to A2M. So that is an 84% growth in the A2M part of the 18,000 MT of power last year. If you add on SM1's other brands then you can see that 35,000 target being met and beaten.

From the annual report last year, if the profit per MT stays the same, then that alone will add $10m to the profit.

But long term I just see this continuing. SM1 infant formula will grow on the back of A2Ms success. And SM1 has plans in place which will ensure it can make more than 80,000 MT per year.

This is all on top of what is happening with A2M milk success. So I cant feel anything by excited by SM1. I feel it is the little sister of A2M and has gone largely unnoticed. But the next report may put it in the spotlight and give it the presence it deserves.

I am looking at buying ahead of the next report.