Ah once again, I answer my own question with a bit more reading....

Ah once again, I answer my own question with a bit more reading. The Pegasus reports gives a pre-tax profit of $3.5 million on sales of 50 million nappies in Australia. Gives a 7c per nappy profit after all costs before tax...hmmmm. So any overseas sales adds to the bottom line. And any cost reduction in production should go straight to the bottom line as well, leading me to wonder how fast costs can be driven down with volume. Either way, entry into Woolworths, if that is who they are close to closing now, will bring their 5% market share forward much faster.