Some negative points from this AFR article today. If David hasn’t updated the market in a timely manner, won’t be happy…..
Here is a snippet: (left out Citi’s sell view)
Mr Bortolussi expects 2022 sales to be higher than the $NZ1.21 billion achieved in fiscal 2021 – underpinned by China and English label formula growth in the second half – but is battling China’s low birth rate.One a2 Milk watcher, who is not a shareholder, said it was a red flag to see a CFO leave at this time of year, pointing to the possibility the company could miss analyst consensus estimates. The share price has fallen 25 per cent this year but was little changed on Tuesday.Sources suggested the China business was suffering, and tensions are boiling with a2 Milk’s biggest corporate daigou partner AZ Global.
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(20min delay)