1H20
• For 1H20, we anticipate revenue in the range of $780 million to $800 million with growth demonstrating strong performance against strategy:
− China label infant nutrition sales forecast to be approximately $135 million representing a growth rate of ~84%
− CBEC1 infant nutrition sales forecast to be approximately $155 million2 representing a growth rate of ~54%
− ANZ English label infant nutrition sales forecast to be approximately $350 million representing a growth rate of ~9%
− US sales forecast to be approximately $27 million representing a growth rate of ~110%
− Australia fresh milk sales forecast to be $75 million representing a growth rate of ~12%
• EBITDA margin % in 1H20 is expected to be higher than FY20 and in the range of 31-32% as a result of:
− Increased cost of goods (including lactoferrin and packaging materials) in 2H20 and increased levels
of strategically important trade marketing activation in China
− Phasing of marketing and capability investment slightly weighted to 2H20; full year marketing
investment expected to be approximately $200 million
God I love this company, JH has continued Geoff B's delivery of a surprise at AGM method which must really p*ss off the Insto's
However our Short holders will seize on the statements below and say they have put off spending until 2H20 and therefore the results are below consensus....• EBITDA margin % in 1H20 is expected to be higher than FY20 and in the range of 31-32% as a result of:
− Increased cost of goods (including lactoferrin and packaging materials) in 2H20 and increased levels of strategically important trade marketing activation in China
− Phasing of marketing and capability investment slightly weighted to 2H20; full year marketinginvestment expected to be approximately $200 million
Hold on for a wild ride
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RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
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