Narratives change quickly. Everyone expects linear returns but that's not always the case. The result wasn't great but I listened to the conference call with great interest. It seems to me like they were quite upfront during the call and issues were also flagged at the AGM.
Now we've seen a bounce because how much can you punish a stock that's trading on a respectable PE (It went back to the mid 20's) as opposed to businesses that have no profit and only revenues to show and trading at nosebleed PE's? Alas, but ALL is also exposed to the consumer and it's not bullet proof. Might've gone early, but at $58 a pop - it's a buy for me.
ALL Price at posting:
$63.26 Sentiment: Buy Disclosure: Held
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