Quite disappointing looks like the inventory level that Synlait‘s has produced for A2M during the 1st and 2nd quarter of this year is significant , a 130% forecast production commission basing on a record FY20 + Covid introduced shock didn’t mix too well. No wonder SM1 couldn’t forecast. Way too much inventories than one had expected.
Think ANZ Daigou has stabilised but there is a bit issue on CBEC channel. Very volatile drop from last quarter .
Hopefully all the inventory issue can finally be put to bed After the huge $90m write off. Not sure who forecasted the planned production at 130% of 2020 volume in a Covid environment probably was Peter Nathan.
To be honest , compare apple to apple 1.3b revenue and low 20% margin assuming no action taken is not great and reflects a downgrade but certainly been priced in for SP at this level and wasn’t that far from a conservative forecast.
Let’s wait and see who sold and who bought at this level from the instos.
Ann: Trading update and revised FY21 outlook, page-213
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$5.71 |
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Mkt cap ! $4.134B | |||
| Open | High | Low | Value | Volume |
| $5.70 | $5.78 | $5.69 | $6.339M | 1.108M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $5.70 |
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| Price($) | Vol. | No. |
|---|---|---|
| $5.72 | 1701 | 2 |
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