"In order to protect against exchange rate movements the Company has entered into forward exchange contracts to sell US$. These contracts are matched to highly probable forecasted sales and they are timed to mature when receipts are scheduled to be received. Contracts held total US$35.4 million with an average exchange rate of USD 0.738 per AUD"
to me It means around 1/3 of their annual income is hedged IMHO A hedge in the low 70s is extremely good considering the A$ is at least 10% higher.
I am guessing you all ready knew that answer just wanted a bite from someone.
AZC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
