I don't understand why this company holds US$. It resulted in a $7.5million loss for the year.
They don't pay expenses in US$ so don't need to hold US$.
The company should be selling US$ forward to the value of sales and not be exposed to to the exchange rate.
This is just a crazy strategy or a mark of gross incompetence. Whoever is responsible should be asked to reconsider there position.
Unbelievable. No wonder some of the posters missed the profit predictions.
Ann: Grange Full Yr Statutory Accts 12 Months Ended 31 Dec 2017, page-17
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