It hasnt been a stella performance, but the market is well down everywhere.
The change in exchange rates will have hurt them a fair bit. Their major raw material - fingerlings - is sourced in $AU and their sales revenue is $US so there is one squeeze. Revenue and profits need to converted back to $AU, so they face the worst possible situation. Hopefully we see some progress towards reporting a virgin profit. That should do it the world of good.
It must be frustrating for management. Just as you get there the winning post is moved!
If (or when) the currency swings back to historical levels, they will be sitting on a nice cash cow.
AAQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
