Any views on where this might bottom out? 7/10 is still along way off.
The CAP still feels a little hot at $480m considering F20 revenue of $62m and the lack of a profit in F20.
The most reasonable comparison for me remains BAL - sold for $1.5b with revenue of $266m in F19 and $47m EBITDA
I know there is a bit of ‘potential’ built into the current SP, but I’m not that optimistic moving forward. I’m seeing the cow milk formula on the bottom shelf in a couple of woolies stores (anyone else seeing this?) while the goal milk formula is now front and centre. Also I’m no expert, but I don’t like the move into vits and supps. Such a saturated busy category with a few big fish to contend with.
Thinking music playing at the moment - I’ll keep watching this between now and 7-10
BUB Price at posting:
77.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)