Agree on DeCosti, but I understood the motivation to grow the downstream side of the business. In hindsight they could have done it so much better. How much did they spend to get the processing ops up to listed company standard? Heaps. I reckon they learned plenty from how DeCosti processes, packages and distributes and it gave them options to use it as a mainland hub. Perfect to funnel the prawns thru also. They paid far too much and didn't get what they paid for (writeoffs, capex required). Now you'd never know how well it's performing because of all the salmon that goes thru there and is processed that wasn't done previously. No like for like comps. As for the left wing attacks they are damned if they do etc. It might require a full scale promotion to air the truth...at what cost? In the end people have to wake up to the fact that it IS large scale farming, just like on land with chooks, cattle, pigs etc and what comes with that is some damage to the environment. And if people can't accept that the alternative is complete destruction of the wild fish population. They need to grow up a bit and behave like adults. Sure aquaculture does some damage...like every other food produced, but unlike others there is a positive feed conversion story and it saves the wild stocks.
TGR Price at posting:
$3.37 Sentiment: Buy Disclosure: Held
