Didn't they previously say they were rationalising/closing their Brazilian distribution centre?
The following came from the CEO's address (November) at the recent AGM re Brazil; "We have more than halved the headcount in the area of sales, administration and warehouse and production staff and outsourced these services" and "we have seen a reduction in the office and warehouse rent costs"
I'm guessing that the cost reductions in Brazil and other lesser cost cutting opportunities together with the Government assistance will tell the story.
It's tough enough using current results to establish a base for the year going forward with COVID still around without having to think about the need to consider currency valuations as well.
I guess that's why we're on the big money.
SDI Price at posting:
80.0¢ Sentiment: Hold Disclosure: Held
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