BUB chart, page-2241

This from BAL this morning looks like a business that has hit a wall with poor management, strategy & vision. The so called reset is where and what BUB's has been doing and is established in, compared to BAL. Goat Milk must be the way to go????

Our transformational rebrand is set to return the business to growth and is gaining momentum  early indicators are positive since launch in March, including an uptick in e-commerce sales, brand interest and Step 1 and Step 2 recruitment in China, consumer pricing and trade economics  doubled investment in both marketing and China capability to activate the brand  The rebrand aims to address a challenging FY19 year which was impacted by regulation, a lower birth rate and increased competition for Chinese demand - FY19 net revenue decreased to $266m and normalised EBITDA was $47m impacted by scale  The short-term reset is now complete and the business enters FY20 with a clean balance sheet, positive consumer momentum and a healthy trade dynamic  legacy-label inventory written-off and market supply has been realigned to underlying demand  Beyond this, a number of positive initiatives give us high confidence in the coming period  breakthrough new products, including Bellamy’s organic ultra-premium and organic goat formula series  accelerated growth in our food business and the launch of a China offline food range  aggressive joint business plans with key e-commerce and social platforms in China  expected re-entry into the China offline formula channel and strong trade interest in the brand  Our FY20 outlook is 10-15% net revenue growth at an EBITDA margin consistent with prior year  We remain confident in our growth strategy and medium-term target of $500m revenue but have deferred this target beyond FY21 given the ongoing SAMR registration process