This thread is total rubbish so I might as well throw in a...

This thread is total rubbish so I might as well throw in a random anecdotal observation.

At my local Woolies in Brisbane (so not exactly the highest selling area) I noticed the stock now has manufactured dates of Jan 2021.

Even before the inventory issues I don't recall seeing MFDs of 6 months or less.

I am not generalising from this, but I would think that the more you struggle to find older stock anywhere, the less you can expect that inventory write-downs are needed.

People on here or other social media are also usually pretty quick to post the moment they spot a clearance or special tag on any A2 product in any single store across the country, no sign of that lately either.

Management forecast an inventory reduction provision assumed it would extend into 1Q21, but the MFDs seem to have already improved, clearance stock is nowhere to be seen, and the reports are that English label channel pricing has bottomed out and improved. So I would guess there's at least half a chance of a lower than expected inventory provision.

Even if that is the case, that might be a benefit to FY22 more so than FY21. Which reinforces your bottom line - that we ought to be looking forward at FY22 and the scope for improvement / growth - as that is what the market will care about the most.