fonda, page-15

One thing that has been pointed out by DR is the drop in Operating Profit Margin across the board.

In our case, they are already doing something about this with the manufacturing efficiencies, so one would hope Fonda has bucked the trend.

However, these guys (DR) are clearly extremely shrewd Indian businessmen - they've got ACL to spend more money to improve efficiencies, so we need to see the results - I wonder just how transparent all the sales/costs data is in the end (I'm not sure how privvy ACL mgt are to all this), or whether its all part of a standard process by DR to extract more dollars from both sides.