BAL "anticipates no material change in inventory levels at the end of FY17". So inventory levels will still be over $100m at the end of June?! So they're still pumping out new tins at roughly the same rate they are selling them! That means they'll have to write off a large chunk of this $100m inventory at some stage![]()
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Ann: BAL 1H17 Results Presentation, page-16
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