There is a slippage between $1.32-$1.48
The management said,
"Highly competitive trading conditions continue in all our markets, with the additional impact from increased Food & Grocery competition in both the South Australian and Western Australian markets."
Food & Grocery are the core businesses. They are still vulnerable.
ALDI is expanding shops in South Australian and Western Australian.
I think ALDI is #1 competitor
the substantial business grow could not match share price grow
The share price/bubble shot up from $1 to $2.20 within 9 months
The bubble created by broker upgrades, not by upgrading earnings
The market share had decrease
Underlying earning decreased
The core EBIT down 17%
Would go to fill $1.32 gap?
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