BAL - Chart, page-744

Yes, when A2M announced its excellent result of 84% sales growth in IF, and 50% sales growth overall, it dragged all of BAL, WAT, BUB up with it. This is because people are hoping all the other brand will do as well. And that result is a very good indicator on Synlait because A2M buys from them.

But somewhere along the line, BAL, WAT and BUB needs to show that they are actually able to grow sales just like A2M can, or the bubble they trades on will slowly deflate, so when Management of BAL comes out and say no sales growth and maybe 10% in the second half .... it is hardly screaming A2M

So the bubble is slowly deflating