In an earlier announcement they said Fortnum was to transition $650 million to the HUB platform during 2nd Half FY16.
$150 million already advised for the 3 months to 31st March with another $500 million to come.
Looks like their $3 billion by 30/6/16 will once again be understated.
It will be very interesting to see just how much effect the economies of scale produce over the next year or so. I had the privilege to have a look at their operation in Sydney, they run a tight ship and I believe we will be agreeably surprised by the speed of the ramp up to solid profitability.
regards, EB
In an earlier announcement they said Fortnum was to transition...
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