My thoughts are the suggested low single digit revenue growth for the 2023-24FY. The margin expectation of high teens rather than in the 20's.
a2m are in the premium segment, so have benefitted favourably from declining birth rates and the associated increased investment in the quality of each child that tends to accompany that.
the lack of dividend/buyback most likely plays into that, it sends a signal that the current share price doesn't warrant a buyback.
A2M Price at posting:
$4.27 Sentiment: Buy Disclosure: Held
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