A few points looking into the numbers a little more
Chrrnecy Chart shows a major improvement and trend reversal of Chinese currency vs USD and AUD in May and June - that’s a big positive
Net debt was 6.9 but inventories increased by over 7m suggesting when this unwinds next 6-12 months it will have a big impact on Net debt
Even though US makes a big contribution rollout has just started with only 400 of 1800 stalls stocking Gape range so far and most of these happened only recently so no major impact on sales - next second half should be very big
Lastly looking at resin prices this is the latest news ( this week) and the last three weeks prices and have been dropping
Weekly resin report: Spot PE prices tumble by as much as $0.04/lb
In summary expect record profits from Gale this year and next
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