You rationalise this, how? Perhaps then you might also care to...

You rationalise this, how? Perhaps then you might also care to explain their 7/9/17 announcement? They’re well beyond their due deliverable dates according to that announcement. Why?

Equally, 6 weeks to go and they have to announce their Q2 cashflow.

Further, 2 months to go and they have to announce their H1 results.

It would be more believable if, during the past 3 years, they had delivered on just one of their strategic promises.

First, the farms. Then, the hubs. Then, the CDC. Then, China. Then, WOW. Then, Lencua. Then, IGA. Then, Liam He. Then, the grand dairy park. Then, organic. Then, powders. Then, dedicated collection and delivery logistics. Then, provenance. Then, making the difference. Then, then, then ........!!!!

Yet earlier this week with the latest 2018 dairy awards’ announcement of nominations, CDC featured in one category (full cream milk) and overall had just one nomination. That’s also a far cry from their 2015, 2916 and, to a lesser trending extent, 2017 experience.

Instead of cultivating, concentrating, controlling and consolidating, as they should be doing, they are churning more. Whilst this might sound good, it’s very similar to most politicians of today’s ilk when announcing new initiatives. By tomorrow they are all just white noise to many and greasy fish and chip wrappers to most others.

Not one of their strategic initiatives has been delivered to fruition to date. Some announcements, yes. Some deliveries, yes. Some progress, yes. But not one of the announcements /projects has been taken through to its logical conclusion. Instead, there have been a multitude of trusts, responsible entities and corporate structures so complex in nature as to do BHP Billiton proud on all of its listing exchanges.

Presently, the business continues to recede, not grow as is demonstrated by the continuing downward trend in effective CDC utilisation and the more recent (last 6+ months) emphasis by Peter Skene of the farms and the milk deliveries over and above the performance of CDC.

So, more churn, or for the first time, concentration, control, cultivation and consolidation? Time should soon tell, if it has not already done so.