1) Reducing inventory does not inflate EBITDA. It does inflate the operational cashflow number however
2) The inventory value is based on the cost of the raw materials plus the labour put into it. It’s comparable to the “cost of goods sold” in the P&L. Wholesale price is what a retailer buys the good for yeah? If so, it would be much less than that.
Ann: 1H24 Trading Update, page-8
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