Tnks Ocker I noted in their last preso ....that FX effects have...

Tnks Ocker

I noted in their last preso ....that FX effects have to be passed on as higher costs .....I would imagine that FMCG channel (coles/woollies) would account for 80-90% of this volume ....and they can be "recalicitrant" to deal with ......

they are also a low ROE business - so I asked myself "how does management get capital out of the business" (to improve economic returns) ?????????

the recent debt issuance - suggests they are going to make acquisitions .....so the quality of these will determine retunrs and hence "investment worthness" ......I truly hope they don't f.... up like HIL .......

its on my "watch list" and at 6-7 times isn't expensive .....but not (yet) a super bargain ....

rgds
Value_Hunter