Pete Findlay

Huge, how much?

If you're on a GLP-1 drug, you're consuming a lot less.

And so basically what that does is that strips fat

But it also strips muscle.

And so what you want to be doing is the food that you are consuming, you want to be highly nutritious and you want to be high in protein to enable you to maintain your muscle mass.

Because whilst you want to lose weight, you don't actually necessarily want to lose muscle because it's terrific for your stability and your physical health.

So we're seeing people on...

GLP-1 drugs wanting to consume a lot of yogurt and milk-based beverage with high protein content in it.

And so when we bought the business, yogurt was sort of growing at 3% or 4% volume per year, which is nice.

That's good.

We're the number one yogurt producer in Australia, and we had sort of a nice 3% or 4% growth.

Over the last couple of years, sort of with the emergence of GLP-1 and...

It's not solely GLP-1, but certainly a big part of it.

Our yogurts now growing sort of 10 or 11% volume year on year.

And so it's having a significant impact on our business.

I couldn't tell you that in Australia, Alan, certainly in the US where GLP-1 drugs are now sort of 10% plus of the community are on GLP-1 drugs.

The average family in the US with a GLP-1 drug user is consuming 6% less food.

And so if you think about that, the US, that equates to a 0.6% reduction in food consumption, which is significant if you think across that.

So I would imagine that those sorts of outcomes will start to play out in Australia.

I would have thought that we will follow the same GLP-1 user depth within our community, and I would have thought that our food consumption will drop.