Ann: ADH FY2021 Results Announcement, page-3

  1. 1,254 Posts.
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    Great results, but the market may not like this..

    Mocka update-- underlying gross margin rate declined by 60bps to 51.2% reflecting the
    impact of additional promotional activity in the second half as stock levels returned to more
    normal levels and the business cycled the national lockdown period in the prior year.
 
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