"ATM's English label sales have halved since PN left and they "dropped" AZ Global.... "
I have no clue where you reached that conclusion from.
"But the numbers are the facts, and they don't make pretty reading...."
OK here are the numbers/facts below. Where's this halving of A2's English label sales you are talking about?
FY21
FY22
1H23 (first half)
1
2
ANZ
$357.0M
$328.8 M
$109.4 M
3
CBEC
$166.9 M
$255.8 M
$175.6 M
4
Total English Label
$523.9M
$614.6M
$285M
There's been a deliberate shift away from relying on daigou (the main driver of ANZ sales) and that is reflected in the changed composition of English label sales to the CBEC channels. A2 has done what its had to do since getting rid of PN and AZ Global. The $120M+ in inventory write-downs sure didn't help the situation though, but were necessary to limit the damage to A2's brand done by PN's mismanagement.
BUB Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)