actually bear23 it is that bad! The european housing market collapsed as well
I import bamboo flooring myself from China. There is a lot of cost pressure over there that will eat margins. there were also some changes to a rebate on taxes that made it less competitive for exporters. When the market gets weak then exporters will slash prices to stay liquid and move stock. Even if you have a unique bamboo flooring product like SYP you still have to compete against other products. You also compete against some very fancy engineered hardwood products. from my experience in the industry the " enviromental" aspect of bamboo flooring doesn't sell the stuff, price and appearance does mostly Hard to get real clarity on SYp. Lots of hype, but no profits yet. Don't forget these guys made a few promises in the past. Their Australia wide franchise dream turned to rubble fairly quickly.If they don't start making money this next six months you gotta wonder whats going on. they have to shift a fair bit of bamboo just to pay the executives!
MTM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
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