I shorted on a gut feel tbh initially. I didn't like it that...

I shorted on a gut feel tbh initially. I didn't like it that they didn't publish their wholesale volume, so it seems they don't want anybody working out their earnings or revenue per kg. Their cost of feed went up. The De costi acquisition lead to a significant rally, and for me it is hard to see that the acq premium was definitely worth it ATM. Also wholesale ops seemed to have a very ordinary half. The growth rate of bio assets did slow from about 18% to 12%.
Also why weren't the earnings broken down between DECosti and the previous wholesale business. Possibly it is nothing to crow about - at this stage anyway.
I suspect the market may want to take back some of the synergy value for De Costi. Not saying it was a bad idea - but to acquire you usually have to share the synergy value with the vendor a bit.
Saying that - those JPM forecasts v actual is definitely giving me pause for thought.