Have finally had a chance to look at the Annual Report and Results Presentation. This is definitely a long term play. The company is obviously going through a big transition stage where marketing and new branding will take centre stage.
A couple of things that stood out for me are, firstly from Page 5 of the Annual Report: "Longer term, we see the Paris Creek Farms brand building its credentials in the dairy cabinet and creating strong brand awareness with consumers. This will pave the way for ongoing growth, starting with exploring the opportunities for Australia's first biodynamic milk powders".
Check out the history of A2M and Bellamys. Both companies similarly had other products building brand awareness well before heading into powdered milk/formula territory.
Also, the exec. team she is building around her includes Mancel Hickey who "was previously COO of Camperdown Powders, a CNCA approved infant formula manufacturer". Bellamys bought Camperdown Powders last year for their formula manufacture. He would obviously bring a lot of knowledge with him in this regard .. interesting to note they particularly referenced the CNCA approved infant formula manufacturer part.
She also has Rod Lyon who has worked for "the last 8 years as the Operations Manager at Bellamys". Again someone who would bring a lot of knowledge in that industry.
Spend enough time googling stuff when you can't sleep and you will find that Wendy Kerrison who was the Office Manager and Exec Assistant at Bellamys has also joined her as her Exec Assistant at Longtable.
She is obviously building a team of people around her that she trusts, that know and support her and who would have valuable knowledge in the FMCG space.
Just my opinion. Maybe I am grasping at straws as I sit on my paper loss, but for me this is a definite hold for the long term. DYOR
LON Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
