Profits from fish sales -- in any meaningful numbers -- are a VERY long way off. They don't start until July, and then from only one farm, and only proportionate to SIAF's equity interest, which I believe starts at 20% +/-.
Income from fish sales are hardly worth thinking about until 2013, imo.
However, if the business model is executed to target, sales will scale incredibly, as the number of farms will quadruple in 2011 (fish sale income 2012) and increase another 160% in 2012 (fish sale income in 2013). AND, the equity stake in each farm will triple +/- over time. So, 2013/2014 income from fish sales could be 20x 2011.
The real financial impact in 2011 and 2012 from new farms will come from the build outs. That model has been proven, and presumably the fish sale model as well, starting in July.
As with all subsidiaries, SIAF has stacked increasing revenue streams, each with a bit different starting and gestation periods. Dairy was first, and fish sales is last, lagging fish farm build out by a year +/-.
The beauty is that once proven, each business can be projected into reliable income growth.
So, the real announcement we're waiting for is new fish farm contracts. That is catalyst numero uno.
The marketing and distribution network will sit on top of all the subs.
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