Replies to post #6371 on Sino Agro Food Inc (fka SIAF)

[treit2002]

Viking,

The spreadsheet has several Excel sheets. You are referring to the tab "change in perspective." You made an excellent catch. Indeed, you can look at the figures in the cells used to derive the revenue % gains, and there are larger numbers that total $71M+, as you say.

However, in the excel sheet named performance targets, you will see that the revenue target for 2011 is $57.7M.

Perhaps, they used their internal, most optimistic revenue case to derive the segment percentages. This best case, if it is that, is almost exactly 25% higher than the overall performance target. Most likely, the $57.7M is a better guide.

However, great to see that the targets may be base case, and apparently have upside.

Pretty much knew this to be the case for HU. Appears that the fish sales are still about on track to performance targets, despite a late start. All other businesses appear on track from press releases, as nearly as I can tell.

Overall, very optimistic. We should have the meaning of "targets" clarified in the Q2 conference call. Hopefully, they intend to under promise and over deliver. Would be great, though these new and growing businesses are not that easy to predict, until a critical mass is reached, and a contract base realized.

Thanks for the catch.