@optimistus
The China label business is transacted in USD, I think at the wholesale level, meaning that the weakening NZD-USD negatively affects margins in that area of the business.
But as per your suggestion it can be offset to some extent by other FX fluctuations. David B mentioned last year that they were looking at buying currency to hedge against some of the uncertainty in FX rates.
@optimistusThe China label business is transacted in USD, I...
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