if I was going to try to ascertain sales for 2H 21, I would bet on a breakdown as follows:
Aud/NZ $ 300 million
US $ 40 million
china MBS $250 million
Cross Border online $140 million
total of approx $730 million
together with H1, we should achieve circa $1,410 million.
my take is that the MBS and CB online channels are the hope for growth. I think we would have done well to achieve a flat result for Aus/nz considering no retail daigou and the running down of excess stock by the retailers.
What will be critical, is the outlook for growth. We would need to see a believable path to $1.6 billion for 2022 and $1.75 by 2023. Talk of state led international student arrivals for July 2021 will help achieving this target. Another help will be the New Zealand dollar tracking down to USD 65 and under. Currently at $69 USD.
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