There is some real risk that they were pulling forward sales... this could have been going on for up to 2 years.
basically in covid they could have turn to customers and said "buy now our supply chain is going to be disrupted" after 2 years of stuffing a few extra tins in each half.
the problem gets bigger every half.
throw in the disappearance of a channel (the biggest one at that) and fundamental analysis is stuffed
ignore my sentiment my judgement is so bad I don't want to kid myself that changing it is worthwhile
A2M Strategic Valuation, page-42
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