Understood to be 75 at around 80% of purchases for FY 18. You are probably looking at an uplift in the region of [low estimate of say $280m USD purchases x 8% fx move x 20%] $4/5m, if exchange rates hold at current levels on the unhedged portion and then another circa $10m on the hedged amount compared to the 72 cent hedged rate last year [$280m x 4% fx move x 80%], or say in region of $15m in total, or more than half of 2017 underlying EBITDA.
Naturally key is for management not to piss it up the wall with sales discounting.
Perennials and Millers: engineering change, page-7
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