Ann: Appendix 4D and Interim Financial Report 31 December 2018, page-24

yep but boutique and high volume doesn’t mix. 

I have no doubt  LB and no1 fert will eat some of mvf’s lunch but I don’t think they can have any significant advantage over Mvf after lb sees her 1000 patients. And how many years does she want to be working 6 days per week? 

Mvf is doing well in aus (excluding the loss of lb) and even better in Malaysia which is more than offsetting the loss of lb even this half. Despite the company having excellent cash flows, low debt, and long term tailwinds, its still trading well below market average.