The reality is that A2M is a sub 50c/share company if it wasn't for infant formula. A2M's fresh milk sales in the latest HY went up 5% over the pcp. That's hardly "strong and fast" growth.
60+% of A2M's revenue and 80+% of its overall profits will come from infant formula in the current HY and moreso in FY 2017. So A2M is in a nearly identical situation to BAL.
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Didn't expect this, page-24
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