Dealing direct with traders in China cuts out the Aus retailer margin (red circle) in the below graph, so that's about $4-$5 extra margin for BAL if they sell to traders at same price as Aus retailers.
You can see why selling to China is a lot more profitable for BAL, and 300%+ growth is amazing!
Direct retailing is the most profitable, somthing BAL has ramped up in FY16.
Good times ahead
BAL day - aug 19th, page-298
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