Kudos to you for putting the question to him and good on him for responding.
Figures in black are actuals prevously reported to date.
Figures in red are what must be projected in order to meet the full year guidance Reg has given (mid single digit revenue - let's call it 5% growth).
BUBs China Revenues
FY23
FY24
% YoY change
Q1 (gross)
7.75
3.8
-51%
Q2 (gross)
4
4.2
5%
1H(gross)
11.75
8
-32%
1H (net)
10.1
7.1
-30%
Q3 (gross)
3.2
2.3
-28%
Q4 (gross)
1.4
6.1
336%
2H (gross)
4.6
8.4
83%
2H (net)
3.5
7.2
106%
Total (net)
13.6
14.3
5%
As you can see, his comments don't really add up.
He has said that H2 would 'grow strongly' over H1. But they only expect 5% full year growth in China sales. So really at most they are only expecting 2H24 to be basically flat compared to 1H24.
In order to get to that completely flat half on half result, they also need to post 4Q24 China sales revenue that is 336% higher than 4Q23. This is after the previous quarter 3Q24 shows a 28% decline vs. 3Q23.
Anyway, anything's possible, I'll leave it at that and let others be the judge.
BUB Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
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