Incorrect big time.
BAL had a take or pay agreement from Fonterra that they couldn't get out of that meant they had to take more and more inventory. On top of that BAL had no ability to sell Chinese labelled IF in China, so their market disappeared.
As we know from Synlait, A2 has reduced their offtake and their market in China has remained stable with increased sales.
The issue is the AU IF sales which have disappeared due to the Daigou market collapsing.
A2 will take a $80 hit due to inventory and their IF sales in AU have slowed or stopped, everything else has slowed but is still plodding along. With the cash they have $80M is nothing.
Ann: Trading update and revised FY21 outlook, page-54
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Last
$6.77 |
Change
0.190(2.89%) |
Mkt cap ! $4.894B | |||
| Open | High | Low | Value | Volume |
| $6.64 | $6.80 | $6.62 | $8.993M | 1.334M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5191 | $6.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.82 | 2584 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| A2M (ASX) Chart |