Ann: 2018 AGM Chairman's Statement & Corporate Presentation, page-14

That's retail though, they're in the wholesale game and they supply these home brands so margins will be tight. 

If they're selling smaller lots at $1.90, then volume orders would be far less as would relabelled products. 

They're own range will have the added expense of marketing.

You can argue about goat and other products but look to bub and see how terrible the margains are, with their growth only comes far more expense.