If you look at the presentation, they are going to spend at...

If you look at the presentation, they are going to spend at least a further $120m on accelerated capex programs during 2018 and 2019, so while debt will be initially reduced, it will increase as this capex program. I assume their strategy is to take advantage of Murray Goulburn's demise and demand out of China and other projects to build for strong profit growth in FY19 & FY20.